Hain Celestial acquires Acirca, parent of Walnut Acres.
In a move destined to expand its organic food offerings, The Hain Celestial Group has acquired Acirca, a financial and investment group that has diligently extended its Walnut Acres brand since June 2000 by integrating into it a series of organic brands, including Mountain Sun, ShariAnn's, Millina's Finest, and Fruitti di Bosco. That extension will serve Hain Celestial Group's purposes well.
"We are excited to bring the well-known Walnut Acres brand into our portfolio of natural and organic products. Founded in 1946, Walnut Acres is America's original organic food brand, and is respected throughout our industry as a gold standard for quality. As part of the Hain Celestial Group, we will enhance its reputation, while remaining true to its heritage--it will be one of our brands in which virtually every product carries the USDA Organic Seal," stated Irwin D. Simon, Hain Celestial Group president and CEO.
Not only will the acquisition provide Hain Celestial with its first entry into the high-growth juice category, it will also round out its offerings by creating marketing and sales synergies for other Hain Celestial brands. For instance, Walnut Acres pasta sauces will be complemented by Our Deboles pasta, thereby providing potential customers with an all-natural combination.
Since Acirca does not own any manufacturing facilities, Hain Celestial will work to expeditiously integrate the new brands into its existing business units. The terms of the acquisition were not disclosed; however, the Walnut Acres brand is expected to add approximately $20 million in sales per year to Hain Celestial.
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|Title Annotation:||Supplier Spotlight|
|Article Type:||Brief Article|
|Date:||Sep 1, 2003|
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