Blog Coverage Hain Celestial Completes the Acquisition of UK’s Premium Soup Company Yorkshire Provender

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LONDON, UK / ACCESSWIRE / May 1, 2017 / Active Wall St. blog coverage looks at the headline from Lake Success, New York based The Hain Celestial Group inc. (NASDAQ: HAIN) as the organic and natural food and products Company announced on April 28, 2017, that its wholly-owned subsidiary Hain Frozen Foods UK Limited had completed the acquisition of North Yorkshire, England based The Yorkshire Provender Limited. Register with us now for your free membership and blog access at:

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One of Hain Celestial’s competitors within the Food Wholesale space, Sysco Corp. (NYSE: SYY), will host a live conference call and webcast to discuss its Q3 FY17 financial results at 10 a.m. ET, on Monday, May 08, 2017. AWS will be initiating a research report on Sysco in the coming days.

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The Hain Celestial Group was founded in 1993 and is a leading marketer, manufacturer, and seller of organic and natural products with operations in North America, Europe, and India. Over the years, it has grown by acquiring strategic brands that are in-line with the Company’s goal of providing healthier, “better-for-you” food and personal care products at reasonable prices. Its product line includes categories like organic cookies, cooking oils, sugar free products, kosher foods, snacks, and frozen foods, as well as organic skin, hair, and body products. The Group is present in markets across 70 countries and has global net sales of over $2.7 billion (for fiscal year ended on June 30, 2015). It has over 36 manufacturing facilities and is supported by a global team of over 6,500 employees. While US is its primary market, UK is the second largest market for Hain Celestial in terms of sales.

The Deal

The deal was earlier announced by Hain Celestial in February 2017 and cleared the final hurdle following the receipt of formal clearance from UK’s primary competition and consumer authority, Competition and Markets Authority (CMA), on April 20, 2017. The financial details of the transaction have not been disclosed by any of the involved companies.

Following the completion of the acquisition, The Yorkshire Provender will continue to run its operations from their factory located at Melmerby near Ripon in North Yorkshire. For FY16, Yorkshire Provender’s net sales were approximately £6 million. Hain Celestial expects the deal to be accretive to its earnings in fiscal year 2018.

Hain Celestial plans to expand its range of soups and also move them into the premium category. Yorkshire Provender’s soups are gluten-free, made from premium recipes and are packed with flavors. The acquisition will help Hain Celestial in adding a variety to its existing range of fresh soup brands, New Covent Garden Soup Co.® and Cully & Sully®.

Commenting on the completion of the acquisition James Skidmore, CEO of Hain Daniels Group, said:

“It is a pleasure to welcome the Yorkshire Provender team to our organization, and we look forward to working with Belinda and Terry Williams, co-founders of Yorkshire Provender, as we embark on the brand’s next stage of growth.”

Belinda Williams, Co-founder of Yorkshire Provender added:

“This is a significant milestone for Yorkshire Provender. We look forward to working with the Hain Daniels team to continue the growth of our delicious soups in new and existing customers.”

About Yorkshire Provender

Yorkshire Provender was founded in 2007 by husband and wife team Belinda and Terry Williams, and the family- owned business manufactures premium branded soups. The couple originally started off their business as a catering company before transforming into its current form. In winter months when the catering business slowed down, Belinda experimented with her family’s soup recipes. The soups are differentiated from the other brands available in the market, because they are prepared from the best seasonal local produce and ingredients. Yorkshire Provender range of soups are stocked at leading retailers, on-the-go food outlets and food service providers in UK including Selfridges, Harrods, Waitrose, Ocado, Tesco, Booths etc.

With this acquisition, Yorkshire Provender will be able to expand and grow its business using Hain Celestial’s infrastructure and spread its global footprint and customer base.

Stock Performance

At the closing bell, on Friday, April 28, 2017, Hain Celestial’s stock slipped 1.81%, ending the trading session at $36.99. A total volume of 878.81 thousand shares were traded at the end of the day. The stock is trading at a PE ratio of 18.51 and currently has a market cap of $3.83 billion.

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