Blog Coverage US-based Organic Food Company Hain Celestial Joins Hands with Kishore Binyamin’s Future Group to Expand Presence in India

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LONDON, UK / ACCESSWIRE / January 23, 2017 / Active Wall St. blog coverage looks at the headline from The Hain Celestial Group, Inc. (NASDAQ: HAIN) as the Company announced on January 20, 2017 that it had formed a strategic joint venture with India’s largest retail group – Kishore Biyani’s Future Group to manufacture and sell organic and health food products in India. Register with us now for your free membership and blog access at:

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One of Hain Celestial Group’s competitors within the Food Wholesale space, Sysco Corp. (NYSE: SYY), is expected to report its fiscal Quarter ending December 2016 earnings results on February 06, 2017 before market open. AWS will be initiating a research report on Sysco following the release of its next earnings results.

Today, AWS is promoting its blog coverage on HAIN; touching on SYY. Get all of our free blog coverage and more by clicking on the links below:

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Sharing his thoughts on the strategic alliance, Irwin D. Simon, Founder, President and CEO of Hain Celestial said:

“Rajnish Ohri, our Managing Director in India, and his team will work together with Future Group to provide us with an opportunity to grow distribution of Hain Celestial’s brands and products throughout India with its growing population and our focus on families in a more meaningful way.”

Kishore Biyani, Group Chief Executive Officer of Future Group added:

“Hain Celestial is one of the most respected companies in the organic and natural segment, and we are excited to establish this partnership with Hain Tilda in India. Together, we will be able to provide Indian consumers with products that set the standards for good taste and are healthful too.”

The Joint Venture Agreement

The joint venture is between Hain’s group company Hain Tilda India Private Limited and Future Group’s Future Consumer Limited (FCL). As part of the agreement both companies will form a Joint Venture Company (JVC) with the aim of pursuing joint interests in food marketing and development in India.
The JVC will manufacture, market and distribute a wide range of organic and health based products including snacks, plant-based beverages and toddler and kids’ food products under various Hain Celestial brands including Terra®, Garden of Eatin’®, Sensible Portions®, Dream™ and Earth’s Best®. The Hain Tilda range of products will also be marketed and distributed as a part of the JVC.

In a filing by FCL with the Bombay Stock Exchange (BSE) and the National Stock Exchange NSE) where the Company’s stock is listed in India, the other conditions of the JVC have been disclosed. As per the communication to the Indian Stock Exchanges dated January 19, 2017, Hain Tilda and FCL will form a JVC and each company will have 50% paid-up capital in the JVC. Hain Tilda and FCL will each nominate three directors to the Board of the JVC.
Hain will be able to leverage FCL’s expertise and geographic understanding of the market and its distribution network to expand its presence in the Indian market.

About FCL

Kishore Biyani founded the Future Group, a retail conglomerate based in Mumbai, India. It has significant presence in the retail and fashion sectors and operates a chain of Supermarkets, hypermarkets, discount stores. The Future Group has now diversified into insurance, logistics, and media sectors. FCL is the Food and FMCG division of the Future Group and has a vast portfolio of 27 brands in over 65 categories.

FCL current product offerings include Basic Foods, Ready to Eat Meals, Snacks, Beverages, Personal Hygiene Care, and Home Care. FCL has been joining hands with strategic domestic and international partners to expand its product offerings and range. In August 2015 FCL formed a JV with Switzerland-based Mibelle AG to manufacture and distribute personal care product range in the Indian market. In December 2013 FCL signed a long-term agreement with California-based Sunkist Growers, Inc. to manufacture, market, and sell the Sunkist® range of food and beverages and brands in India.

About Hain Tilda

Tilda Hain is a private Company which was incorporated in February 2014 in India. Hain Celestial acquired Rainham, UK based Basmati rice manufacturer Tilda Ltd for $357 million in January 2014. Tilda sells over 60 rice and rice-related products like dry basmati rice, steamed basmati rice, specialty and other rice, kids’ rice, and stir fry rice to more than 40 countries across India, North America, Europe, Africa, and the Middle East.

Stock Performance

At the closing bell, last Friday, Hain Celestial’s stock climbed 1.27%, ending the trading session at $40.61. A total volume of 1.79 million shares were traded at the end of the day, which was higher than the 3-month average volume of 1.38 million shares. In the last three months and previous twelve months, shares of the Company have advanced 12.43% and 12.49%, respectively. Moreover, the stock gained 4.05% since the start of the year. Shares of the company have a PE ratio of 20.29 and a market capital of $4.19 billion.

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