FDBusiness.com

Hain Celestial Makes Strategic Irish Acquisition

 Breaking News
  • AB InBev to Sell Australian Business For US$11.3 Billion to Asahi Group Anheuser-Busch InBev has agreed to divest Carlton & United Breweries (CUB), its Australian subsidiary, to Asahi Group Holdings for Au$16.0 billion, (US$11.3 billion) in enterprise value. The transaction represents an implied multiple of 14.9x 2018 normalised EBITDA. As part of this transaction, AB InBev will grant Asahi Group Holdings rights to commercialise the portfolio of AB [...]...
  • UK Spirits Boom Shows No Signs of Slowing Spirits producers across the UK are gearing up to dramatically increase production over the next 12 months amid signs that the boom in UK spirits is set to continue, according to research conducted by a campaigning alliance that has just been launched. A poll by Survation for the newly-established UK Spirits Alliance has found that 65 [...]...
  • Mondelēz International Completes Acquisition of Majority Interest in Perfect Snacks Mondelēz International has completed its acquisition of a majority interest in Perfect Snacks®, a pioneer in the fast-growing refrigerated nutrition bars segment with a range of offerings including Perfect Bar, The Original Refrigerated Protein Bar™, and Perfect Snacks’ other lines of organic, non-GMO, nut-butter based protein bars and bites. “The Perfect Snacks majority acquisition further expands [...]...
  • Interim Revenue and Profits Up at Nichols Nichols, the UK-based soft drinks group, has reported a 10.2% increase in revenue to £71.6 million and a 2.0% rise in profit before tax to £13.3 million for the half year ended 30 June 2019, compared to the corresponding period in the previous year. EBITDA increased by 9.7% to £15.3 million. To support the trading [...]...
  • First Milk Announces Proposed Changes at Scottish Creameries First Milk, the UK dairy co-operative, has announced the commencement of employee consultation about proposed changes at its Scottish Creameries. The Scottish Creameries were put up for sale in April 2018 when First Milk announced that its Campbeltown and Arran Creameries were not core to its business strategy for the future. Despite significant effort over the [...]...

Hain Celestial Makes Strategic Irish Acquisition

Hain Celestial Makes Strategic Irish Acquisition
May 08
09:35 2012

Hain Celestial Group, the US-based natural and organic products manufacturer, is extending its international presence into Ireland with the acquisition of Cully & Sully. Cully & Sully is a marketer and manufacturer of natural chilled soups, savory pies and hot pots, all under the Cully & Sully brand, with a range of approximately 20 products. Cully & Sully supplies all major food retailers in Ireland. The founding management team of Cullen Allen (Cully) and Colum O’Sullivan (Sully) will continue to manage all aspects of Cully & Sully reporting to Rob Burnett, chief executive of Hain Daniels Group.

Irwin Simon, founder, president and chief executive of Hain Celestial, comments: “Cully & Sully’s branded soup is similar to our New Covent Garden Soup Co brand in the United Kingdom. We are excited about the prospects to expand our presence into the Irish marketplace with our Hain Celestial and Daniels brands and to expand Cully & Sully chilled fresh soups into the United Kingdom. We see a tremendous opportunity for chilled soups as consumers move away from canned soups and into fresh chilled soups. We also welcome two energetic, creative entrepreneurs, Cully and Sully, to the Hain Celestial Europe team.  We hope to utilize Cully and Sully’s knowledge and expertise for Hain Daniels and here in the United States as we move chilled fresh soups to the North American marketplace.”

The acquisition is expected to be neutral to Hain Celestial’s earnings in fiscal year 2012 and to be accretive to earnings in fiscal year 2013. Details of the transaction were not disclosed.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 17, 2019Future Food-Tech
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements