Hain Celestial to buy baby care product company
Hain Celestial to buy baby care product company
Hain Celestial to buy baby care product company
Natural and organic food company Hain Celestial Group Inc., always hungry for new acquisitions, Monday said it plans to buy a Wisconsin-based marketer and distributor of diapers and baby wipes for $3.4 million in cash.
Melville-based Hain said that it would pay 45 cents a share for the 7.5 million shares outstanding of TenderCare International Inc., whose products are sold under the Tushies and TenderCare brand names.
Hain said the acquisition is expected to add slightly to earnings during its fiscal 2008 year.
The deal must be approved by TenderCare shareholders.
Irwin D. Simon, Hain's chief executive officer, said in a statement that the acquisition will allow the company to expand its Earth's Best brand beyond its current categories of baby foods, soups and snacks.
Hain employes about 2,000 people, including about 200 on
Shares of Hain were up in early Monday trading, increasing 4 cents to $27.45.
Boutique executive search services with best in class global network, contacts and market mastery.
Deeply connected and engaged personal service approach, long-term investment in client community and 25 year history of strong relations with both Multi-National leaders and Private Equity partners.