LAKE SUCCESS, N.Y.,
April 28, 2014 /PRNewswire/ -- The
Hain Celestial Group, Inc. (NASDAQ: HAIN), a leading organic
and natural products company providing consumers with A Healthier
Way of Life™, today announced the acquisition of Rudi's Organic
Bakery, Inc. ("Rudi's"), a leading organic and gluten-free company
with facilities in Boulder, Colorado. Under the Rudi's
Organic Bakery® and Rudi's Gluten-Free Bakery brands, Rudi's offers
a range of approximately 60 products including USDA-certified
organic breads, buns, bagels, tortillas, wraps and soft pretzels
and GFCO-certified natural breads, buns, pizza crusts, tortillas,
snack bars and stuffing in the United
States and Canada.
In calendar year 2013, Rudi's generated approximately
$60 million in net sales and is
expected to be accretive to Hain Celestial's earnings in fiscal
year 2015. The purchase price of $61.3
million consisted of cash and common shares of Hain
Celestial. Rudi's was a portfolio company of Charterhouse
Equity Partners LLC.
"We are very excited by the strategic acquisition of Rudi's, a
leading certified organic bread brand, which expands our
participation into 11 of the top 20 natural categories in the
United States. At Hain Celestial we look for the latest
trends, and consumers are increasing their purchases of whole
grains, organic and gluten-free product offerings," said
Irwin D. Simon, Founder, President
and Chief Executive Officer of Hain Celestial. "As a company
committed to driving product innovation, we plan to build upon
Rudi's leadership position and see the opportunity to take Rudi's
into other categories where the brand does not have products
today. We have a proven ability to expand great brands and
products into various channels of distribution including the
conventional, mass and club channels where we see significant
opportunities for increased distribution. We expect to
deliver significant synergies through top line sales and bottom
line cost efficiencies by effectively leveraging the platform of
Hain Celestial US, as we have successfully demonstrated with
previous acquisitions."
"I am thrilled for all of the employees of Rudi's that we are
joining the Hain Celestial family! They are a leader in
organic and natural products, and this will be the perfect home for
our brand, an industry icon since 1976," said Jane S. Miller, President and CEO of Rudi's.
"As a company deeply rooted in Boulder since the 1960s, we are
pleased to be increasing our presence in the community, and we
welcome the Rudi's team to the Hain Celestial family as we seek to
drive the next level of growth for the brand," concluded
Irwin Simon.
Third Quarter Fiscal Year 2014 Earnings Report
Hain
Celestial will host its third quarter fiscal year 2014 earnings
conference call on Thursday, May 8,
2014 at 8:30 AM Eastern Daylight
Time, which will include remarks on the strategic
acquisition of Rudi's. The conference call will be webcast
and available under the Investor Relations section of the Company's
website at www.hain.com.
The Hain Celestial Group, Inc.
The Hain Celestial
Group (NASDAQ: HAIN), headquartered in Lake Success, NY, is a leading organic and
natural products company in North
America and Europe. 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®, 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®, 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®, 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 acquisition of Rudi's and the potential for growth
and improvements to the Company's earnings results therefrom.
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 2014 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 Company's expectations for its business
for fiscal year 2014 and its positioning for the future; 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 investments,
to successfully execute their business plans; 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 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 natural and organic 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; 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
Securities and Exchange Commission, including the annual report on
Form 10-K for the fiscal year ended June
30, 2013. 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.