Hain Celestial completes strategic acquisition in United Kingdom

theflyonthewall.com

Hain Celestial announced the closing of the acquisition of Premier Foods plc's portfolio of market-leading packaged grocery brands including Hartley's, Sun-Pat, Gale's, Robertson's, and Frank Cooper's. The acquisition is expected to be accretive to Hain Celestial's earnings beginning with the Q2. The company estimates that net sales during the eight month period from closing to June 30, 2013 will approximate $180M with accretion in earnings per diluted share during that period approximating 25c before acquisition related charges. Consideration consisted of GBP170M in cash and 836,426 shares of Hain Celestial common stock.

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