Hain Celestial Acquires Churchill Food Products
The Hain Celestial Group Inc. announces the acquisition of Churchill Food Products Limited, a manufacturer and distributor of food-to-go products in the United Kingdom. Located in Nottingham, Churchill's production is expected to complement Hain Celestial's existing Daily Bread brand. The company completed this acquisition as part of its plan to return to profitability in the United Kingdom, which is expected to occur in fiscal year 2011.
"The addition of Churchill's expands our customer base for food-to-go offerings in the United Kingdom," says Irwin D. Simon, president and chief executive officer of Hain Celestial. "We view this as a strategic acquisition to broaden our customer base and our Daily Bread branded products. Our combined technical and innovation teams will bring us the capability of developing more exciting and healthy food-to-go products."
With this acquisition completed, a strategic review of the two businesses will begin with the goal of maximizing synergies. Consultations with employees will take place regarding any proposed plans developed during the strategic review.
Terms of the acquisition, which closed on June 15, 2010, were not disclosed.
"The addition of Churchill's expands our customer base for food-to-go offerings in the United Kingdom," says Irwin D. Simon, president and chief executive officer of Hain Celestial. "We view this as a strategic acquisition to broaden our customer base and our Daily Bread branded products. Our combined technical and innovation teams will bring us the capability of developing more exciting and healthy food-to-go products."
With this acquisition completed, a strategic review of the two businesses will begin with the goal of maximizing synergies. Consultations with employees will take place regarding any proposed plans developed during the strategic review.
Terms of the acquisition, which closed on June 15, 2010, were not disclosed.