New acquisition for the organic company Hain Celestial Group Inc.
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The Hain Celestial Group, Inc., a leading organic and natural products company with operations in North America, Europe and India providing consumers with A Healthier Way of Life™, announced the acquisition by Hain Celestial United Kingdom, through one of its wholly-owned subsidiaries, of Orchard House Foods Limited ("Orchard House"), a leader in prepared fruit, juices, fruit desserts and ingredients with facilities in Corby and Gateshead in the United Kingdom, according to PR News Wire.
In fiscal year 2016 the Company expects between approximately $60 and $65 million in net sales and modest accretion to Hain Celestial's earnings from Orchard Foods. Founded in 1985, Orchard House was owned by Wellness Foods Ltd. The acquisition requires formal clearance from the Competition Market Authority in the United Kingdom. Until formal clearance has been received, Hain Daniels and Orchard House will continue to operate independently; thereafter, the Company expects to deliver synergies and explore growth opportunities. The financial results of Orchard House will be consolidated into the Company's United Kingdom operating segment.
Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial explains “Along with the acquisition comes innovative new processing technology to expand the shelf life of fresh fruit and juices. We also believe there may be opportunities to leverage Orchard House's expertise into new branded product offerings in fruit, juice and bars under the Ella's Kitchen®, Hartley's®, Johnson's Juice Co.® and Sun-Ripe® brands."
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