LAKE SUCCESS, N.Y.,
Dec. 12, 2014 /PRNewswire/ -- The
Hain Celestial Group, Inc. (NASDAQ: HAIN), a leading organic and
natural products company with operations in North America, Europe and India providing consumers with A Healthier Way
of Life™, today announced the closing of an expanded
unsecured $1 Billion Senior Credit
Facility led by Bank of America Merrill Lynch and Wells Fargo
Bank. The amended and restated credit agreement and related
commitments are scheduled to mature in December 2019. The
revolving credit facility may increase by an additional
$350 million provided certain
conditions are met.
"Our amended and restated credit facility reflects the strength
of Hain Celestial's balance sheet and provides us with increased
financial flexibility with a more favorable pricing grid and
extended maturity," commented Irwin D.
Simon, Founder, President, Chief Executive Officer and
Chairman of the Board of Hain Celestial. "Our financing partners
will enable us to maintain operating flexibility with a solid
financial platform to support our growing business with working
capital as well as acquisition capital to support our strategic
growth initiatives."
The Hain Celestial Group, Inc.
The Hain Celestial
Group (NASDAQ: HAIN), headquartered in Lake Success, NY, is a leading organic and
natural products company with operations in North America, Europe and India. Hain Celestial participates in many
natural categories with well-known brands that include Celestial
Seasonings®, Earth's Best®, Ella's Kitchen®, Terra®, Garden of
Eatin'®, Sensible Portions®, Health Valley®, Arrowhead Mills®,
MaraNatha®, SunSpire®, DeBoles®, Casbah®, Rudi's Organic Bakery®,
Gluten Free Café™, Hain Pure Foods®, Spectrum®, Spectrum
Essentials®, Walnut Acres Organic®, Imagine®, Almond Dream®, Rice
Dream®, Soy Dream®, WestSoy®, The Greek Gods®, BluePrint®,
FreeBird®, Plainville Farms®, Yves Veggie Cuisine®, Europe's Best®, Cully & Sully®, New Covent
Garden Soup Co.®, Johnson's Juice Co.®, Farmhouse Fare®,
Hartley's®, Sun-Pat®, Gale's®, Robertson's®, Frank Cooper's®, Linda McCartney®, Lima®,
Danival®, Natumi®, GG UniqueFiber®, Tilda®, Akash Basmati®, Abu
Shmagh®, JASON®, Avalon Organics®, Alba Botanica® and Queen
Helene®. Hain Celestial has been providing A Healthier Way of
Life™ since 1993. For more information, visit
www.hain.com.
Safe Harbor Statement
This press release contains
forward-looking statements under the Private Securities Litigation
Reform Act of 1995. Words such as "plan," "continue,"
"expect," "expected," "anticipate," "estimate," "believe," "may,"
"potential," "can," "positioned," "should," "future," "look
forward" and similar expressions, or the negative of those
expressions, may identify forward-looking statements. These
forward-looking statements include the Company's expectations
relating to the new credit facility including working capital and
acquisition capital to support its strategic growth
initiatives. Forward-looking statements involve known and
unknown risks and uncertainties, which could cause the Company's
actual results to differ materially from those described in the
forward-looking statements. These factors include, but are
not limited to the Company's ability to achieve its guidance for
net sales and earnings per diluted share in fiscal year 2015 given
the economic environment in the U.S. and other markets that it
sells products as well as economic, political and business
conditions generally and their effect on the Company's customers
and consumers' product preferences, and the Company's business,
financial condition and results of operations; the receipt of the
required approval from the Company's stockholders of the proposed
authorized common stock increase; changes in estimates or judgments
related to the Company's impairment analysis of goodwill and other
intangible assets, as well as with respect to the Company's
valuation allowances of its deferred tax assets; the Company's
ability to implement its business and acquisition strategy; the
ability of the Company's joint venture investment to successfully
execute its business plan; the Company's ability to realize
sustainable growth generally and from investments in core brands,
offering new products and its focus on cost containment,
productivity, cash flow and margin enhancement in particular; the
Company's ability to effectively integrate its acquisitions; the
Company's ability to successfully consummate its proposed
divestitures; the effects on the Company's results of operations
from the impacts of foreign exchange; competition; the success and
cost of introducing new products as well as the Company's ability
to increase prices on existing products; availability and retention
of key personnel; the Company's reliance on third party
distributors, manufacturers and suppliers; the Company's ability to
maintain existing customers and secure and integrate new customers;
the Company's ability to respond to changes and trends in customer
and consumer demand, preferences and consumption; international
sales and operations; changes in fuel, raw material and commodity
costs; changes in, or the failure to comply with, government
regulations; the availability of organic and natural ingredients;
the loss of one or more of the Company's manufacturing facilities;
the ability to use the Company's trademarks; reputational damage;
product liability; product recall or market withdrawal;
seasonality; litigation; the Company's reliance on its information
technology systems; and the other risks detailed from time-to-time
in the Company's reports filed with the SEC, including the
annual report on Form 10-K for the fiscal year ended June 30, 2014. As a result of the foregoing
and other factors, no assurance can be given as to future results,
levels of activity and achievements and neither the Company nor any
person assumes responsibility for the accuracy and completeness of
these statements.
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SOURCE The Hain Celestial Group, Inc.