Hain Celestial Acquires Remaining Stake of Organic Poultry Processor
The Hain Celestial Group, Inc., Lake Success, N.Y., acquired the remaining 51.3% of Hain Pure Protein Corp. (HPP) that it did not already own from an affiliate of Pegasus Capital Advisors, L.P. for a purchase price of $40 million.
HPP, a leading antibiotic-free and organic poultry processor, offers a full range of fresh and frozen FreeBird chicken, Plainville Farms turkey and private label products in the United States. In fiscal year 2014, HPP is expected to generate more than $230 million in net sales, and is expected to be accretive to Hain Celestial's earnings in fiscal year 2015 by $0.03 to $0.05 per diluted share.