LAKE SUCCESS, N.Y.,
Sept. 23, 2016 /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 acceptance by the Competition and
Markets Authority ("CMA") of Hain Celestial's undertaking to sell
its own-label freshly squeezed fruit juice business including the
related Headcorn facility and the approved sale of the business to
Multiple Marketing Ltd. The own-label juice business
generated approximately £20 million in net sales for year ended
June 30, 2016.
"We are excited to receive the acceptance of our undertaking to
sell our own-label freshly squeezed fruit juice business from the
CMA. Under Hain Celestial United Kingdom we look to expand
our presence in the on-trend fresh category with prepared fruit,
drinks and desserts under the leadership of James Skidmore, Chief Executive Officer," said
Irwin D. Simon, Founder, President
and Chief Executive Officer of Hain Celestial. "With the
completion of the CMA review, we expect to deliver sales and
operating efficiencies with the integration of Orchard House into
Hain Celestial United Kingdom and seek new product development in
cold pressed juice and branded fruit product offerings in the
United Kingdom and Continental
Europe."
On December 22, 2015, Hain
Celestial 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. On May 17, 2016, the
CMA announced that the acquisition gave rise to a loss of
competition and would be referred to a more in-depth review unless
an acceptable undertaking was offered to address the
concern.
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®, Hain Pure Foods®, Spectrum®, Spectrum Essentials®,
Imagine®, Almond Dream®, Rice Dream®, Soy Dream®, WestSoy®, The
Greek Gods®, BluePrint®, FreeBird®, Plainville Farms®, Empire®,
Kosher Valley®, 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®, Happy®, Joya®, Natumi®, GG UniqueFiber®, Tilda®, JASON®,
Avalon Organics®, Alba Botanica®, Live Clean® 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
Certain statements contained in
this press release constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are predictions based on
expectations and projections about future events, and are not
statements of historical fact. You can identify forward-looking
statements by the use of forward-looking terminology such as
"plan", "continue", "expect", "anticipate", "intend", "predict",
"project", "estimate", "likely", "believe", "might", "seek", "may",
"remain", "potential", "can", "should", "could", "future" and
similar expressions, or the negative of those expressions. These
forward-looking statements include the Company's beliefs or
expectations relating to (i) product offerings and development;
(ii) sales and operating efficiencies; and (iii) growth and
distribution opportunities. Such forward-looking statements involve
known and unknown risks, uncertainties, and other factors which may
cause the actual results, levels of activity, performance or
achievements of the Company, or industry results, to be materially
different from any future results, levels of activity, performance
or achievements expressed or implied by such forward-looking
statements. Such factors include, among others, general economic
and financial market conditions; competition; our ability to
respond to changes and trends in customer and consumer demand,
preferences and consumption; our reliance on third party
distributors, manufacturers and suppliers; the consolidation or
loss of a significant customer; our ability to introduce new
products and improve existing products; availability and retention
of key personnel; our ability to effectively integrate our
acquisitions; our ability to successfully consummate any proposed
divestitures; liabilities arising from potential product recalls,
market withdrawals or product liability claims; outbreaks of
diseases or food-borne illnesses; potential litigation; the
availability of organic and natural ingredients; our ability to
manage our supply chain effectively; changes in fuel, raw material
and commodity costs; effects of climate change on our business and
operations; our ability to offset input cost increases; the
interruption, disruption or loss of operations at one or more of
our manufacturing facilities; the loss of one or more of our
independent co-packers; the disruption of our transportation
systems; risks associated with expansion into countries in which we
have no prior operating experience; risks associated with our
international sales and operations, including foreign currency
risks; impairment in the carrying value of our goodwill or other
intangible assets; our ability to use our trademarks; reputational
damage; changes in, or the failure to comply with, government laws
and regulations; liabilities or claims with respect to
environmental matters; our reliance on independent certification
for our products; a breach of security measures; our reliance on
our information technology systems; effects of general global
capital and credit market issues on our liquidity and cost of
borrowing; potential liabilities not covered by insurance; the
ability of joint venture investments to successfully execute
business plans; dilution in the value of our common shares; and the
other risks detailed from time-to-time in the Company's reports
filed with the Securities and Exchange Commission, including the
annual report on Form 10-K for the fiscal year ended June 30, 2015. As a result of the foregoing and
other factors, no assurance can be given as to the future results,
levels of activity and achievements of the Company, 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.