Hain Celestial acquires Daily Bread
Hain Celestial acquires Daily Bread
Hain Celestial acquires Daily Bread
Hain Celestial Group Inc., the nation's largest manufacturer of organic groceries that has shown a large appetite for acquisitions in the last year or so, announced Wednesday that it has bought yet another company, this one a London-based supplier of foods to Buckingham Palace.
Melville-based Hain said it has agreed to acquire Daily Bread Ltd., a producer of prepared foods whose sales last year were about 12 million pounds, or about $24 million.
The purchase price was not disclosed.
Hain, which entered the market in the
Timothy J. Roupell, who founded Daily Bread more than 20 years ago, will be executive director, Hain said.
Hain said the acquisition is expected to add to earnings during the company's fiscal 2009 year.
The acquisition is Hain's fourth since a year ago in May.
The company announced in early March that it had agreed to buy two food brands -- MaraNatha and SunSpire and their nut butter manufacturing facility in Ashland, Ore., -- from a Maryland-based investment banking firm. Last December, Hain agreed to buy TenderCare International, a natural diapers distributor and marketer, for $3.4 million in cash. And in May 2007, Hain bought the tofu and meat business of WhiteWave Foods, a unit of Dean Foods Inc.
In February, Hain said sales in its fiscal second quarter, which ended Dec. 31, rose 20 percent, compared with the same period a year ago.
Hain has about 2,000 employees worldwide, including 200 on
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