LAKE SUCCESS, N.Y.,
Dec. 20, 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 it has received a second limited waiver
and extension of certain obligations under its unsecured credit
facility from its lenders until February 27,
2017. This relates to the delivery of the Company's
financial statements for fiscal year 2016, first quarter fiscal
year 2017, and if necessary, second quarter fiscal year 2017,
concurrent with the compliance extension previously granted by The
Nasdaq Stock Market LLC. This will allow Hain Celestial to be
compliant with its borrowing obligations while the Company works to
complete the filing of its Annual Report on Form 10-K for its
fiscal year ended June 30, 2016 as
well as its first quarter and second quarter fiscal year 2017
financial statements. The unsecured $1
billion senior credit facility is scheduled to mature in
December 2019 and may be increased by
an additional $350 million provided
certain conditions are met.
"We are pleased to receive the continued full support of our
bank group led by Bank of America Merrill Lynch and Wells Fargo in
securing this waiver and extension as we move forward in our
reporting process," commented Irwin D.
Simon, Founder, President and Chief Executive Officer of
Hain Celestial. "We continue to have operating flexibility
for a solid financial platform with working capital and 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®, 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 the filing of the Annual Report on Form
10-K for the fiscal year ended June 30,
2016, the Quarterly Report on Form 10-Q for the period ended
September 30, 2016 and the Quarterly
Report on Form 10-Q for the period ended December 31, 2016. Such forward-looking
statements involve known and unknown risks, uncertainties, and
other factors which may cause the actual results to be materially
different from any future results expressed or implied by such
forward-looking statements. Such factors include a material delay
in the Company's financial reporting, the possibility that one or
more material weaknesses in the Company's internal control over
financial reporting may be identified in connection with the
ongoing review, the possibility that the ongoing review may
identify errors, which may be material, in the Company's revenue
recognition accounting, whether investors should no longer rely
upon previously issued financial statements, and the risk that the
Company may need to restate its financial statements. 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.