Hain Celestial Expands Farm to Table Product Offering
The Hain Celestial Group, a leading organic and natural products company with operations in North America, Europe and India, has acquired the remaining approximately 80% that it did not already own of Empire Kosher Poultry, the leading kosher, antibiotic-free poultry brand in the United States. The purchase price was $57.6 million, which includes net debt. In May 2010 Empire purchased Kosher Valley, the first brand of certified kosher antibiotic-free, vegetarian fed and humanely raised all natural branded chicken and turkey products, from Hain Pure Protein Corporation at which time HPPC received a 19% interest in Empire.
Empire offers a full range of kosher antibiotic- and hormone-free chicken and turkey products including fresh tray pack, frozen, deli, fully cooked, gluten-free and organic products in the United States as well as the Kosher Valley brand sold exclusively in Whole Foods Market. Empire generated over $100 million in net sales in calendar year 2014 and is expected to be accretive to Hain Celestial’s earnings in fiscal year 2016.
“Empire expands our Farm to Table product offerings, a growing category that appeals to those seeking ‘the pure foods trend,’ including our core natural and organic consumers,” says said Irwin D Simon, founder, president and chief executive of Hain Celestial. “We plan to expand the product offerings into deli, fresh prepared foods and other grocery categories. Additionally, we expect to leverage our infrastructure to create revenue and procurement synergies, and we paid an attractive price considering the multiples being paid for antibiotic-free protein companies today.”
Hain Celestial has over 2,000 products that are kosher certified in its branded portfolio of natural and organic products. With the acquisition of Tilda basmati rice in January 2014, the company has expanded its ethnic footprint and product offerings including geographically into India and the Middle East, where the Hain Celestial believes it may have opportunities to expand its organic and natural kosher product offerings.
