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CELESTIAL SEASONINGS, INC. SUCCESSFULLY COMPLETES INITIAL PUBLIC OFFERING

 BOULDER, Colo., July 13 /PRNewswire/ -- Celestial Seasonings, Inc. (NASDAQ: CTEA) today announced the completion of its initial public offering of 1,900,000 shares of common stock. The shares were priced at $20 per share. The offering was co-managed by PaineWebber, Incorporated and Lehman Brothers. The stock has been listed on NASDAQ under the symbol CTEA.
 Mo Siegel, chairman and chief executive of Celestial Seasonings, commented: "This offering is an important step in the growth of Celestial Seasonings. I would like to thank our employees, customers, consumers and investors for making this recapitalization possible. A strong capital base will enhance our ability to deliver more great tasting and entertaining tea beverages."
 Celestial Seasonings, which was acquired in a management buyout led by Vestar Capital Partners from Kraft, Inc. in 1988, is the largest manufacturer and marketer of herb teas in the United States. Its leading brands of herb teas include Sleepytime, Lemon Zinger, Mandarin Orange Spice, Peppermint and a variety of other proprietary blends. The company, which also manufactures an array of black teas and a newly introduced line of Iced Delight teas, recently entered into an agreement with Perrier Group of America, under which Perrier will manufacture and distribute a full line of ready-to-drink Celestial Seasonings bottled iced tea products in the United States.
 -0- 7/13/93
 /CONTACT: Philip Livingston, chief financial officer of Celestial Seasonings, 303-581-1245/
 (CTEA)


CO: Celestial Seasonings, Inc. ST: Colorado IN: FOD SU: OFR

LR-TS -- NY017 -- 0757 07/13/93 09:14 EDT
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Publication:PR Newswire
Date:Jul 13, 1993
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