MELVILLE, New York, October 25, 2011 /PRNewswire/ --
Raises Annual Guidance by $0.13 Per Diluted Share
The Hain Celestial Group, Inc. (NASDAQ: HAIN), a leading natural and organic products company providing consumers with A Healthy Way of Life™, today announced the acquisition of Daniels Group ("Daniels") in the United Kingdom.
Daniels is a leading marketer and manufacturer of natural chilled foods in the United Kingdom with three leading brands-New Covent Garden Soup Co.® brand, the No. 1 fresh chilled soup brand; the Johnson's Juice Co.® brand, the No. 1 fresh squeezed orange juice brand; and Farmhouse Fare® brand, the No. 1 brand of traditional hot eating desserts. Daniels also offers fresh prepared fruit products and chilled ready meals. In the United Kingdom, the chilled/fresh category represents over 50% of food sales and is the fastest-growing category in the grocery sector. Daniels' product offerings are sold at all major supermarkets and select foodservice outlets throughout the United Kingdom.
"We are extremely excited about the Daniels portfolio becoming part of Hain Celestial. We believe the addition of these category-leading brands and products along with our Linda McCartney® and Daily Bread™ brands will create a powerhouse in the fresh and frozen natural sector in the United Kingdom. We believe the acquisition will also provide us with scale in our international operations to allow us to introduce some of our existing global brands, including Rice Dream®, Celestial Seasonings®, Earth's Best®, Terra Chips® and Sensible Portions®, in a more meaningful way in the marketplace," stated Irwin D. Simon, President and Chief Executive Officer of Hain Celestial.
"The strategic acquisition of Daniels extends Hain Celestial's presence into one of the fastest-growing healthy food segments in the United Kingdom with a solid leadership position and platform for the growth of our combined operations. We will also look to expand the distribution of certain Daniels brands throughout the rest of Europe utilizing our European-based sales organization. Our momentum with consumers continues in the natural and organic sector as we experience favorable growth trends across our branded portfolio in the United States, Canada, and Europe, including the United Kingdom," continued Irwin Simon.
"The Daniels acquisition comes with a very strong management team led by Rob Burnett, who has over 20 years of experience managing food businesses in the United Kingdom. Rob and his team have been instrumental in more than tripling the Daniels business since 2002," said Irwin Simon. Rob Burnett will become Chief Executive Officer-Hain Celestial United Kingdom, reporting to Irwin Simon.
"Over the years we have focused on the long-term growth of our products in the chilled category by investing in our brands with new product innovation and building customer loyalty," commented Rob Burnett.