UK/US: Hain Celestial to sell sandwich unit Daily Bread
Hain Celestial deemed sandwich business Daily Bread "no longer core"
Hain Celestial is to offload UK sandwich unit Daily Bread as the company reshapes its business in the country.
The US group announced plans to sell Daily Bread today (22 August), alongside news it plans to buy Premier Foods plc's spreads assets, including brands such as Hartley's and Sun-Pat.
Hain Celestial said it had signed a "letter of intent" to "transfer the brand" to an unnamed "strategic buyer". The deal is expected to close next month. Financial details were not disclosed.
It acquired foodservice sandwich supplier Daily Bread in 2008 but the company said it had decided it was "no longer a core business".
Hain Celestial's UK operations are being moulded into a major supplier to the country's retailers. Last October, it acquired UK food manufacturer Daniels Group, which owned brands including New Covent Garden Soup Co. and Farmhouse Fare desserts. Hain Celestial's other brands include the Linda McCartney meat-free line.
Alongside the Daily Bread disposal, Hain Celestial also named Greencore as the buyer of an own-label chilled business it had already announced it would sell.
This report analyzes the worldwide markets for Baby Foods and Infant Formula in US$ Million by the following Product Segments: Infant Formula (Baby Milks/Baby Formulas), Baby Meals, Baby Cereals, Baby...
- Comment: Paying the price for eating healthily
- Focus: Will Danone return to growth in dairy?
- Why Nestle is relaxed about the China "drag"
- Focus: Why French retail deals could hit suppliers
- M&A Watch: Emmi shareholders should consider sale
- Nestle organic sales fall on Asia, Europe
- Danone "eyes acquisition of Mead Johnson"
- Symington's acquires Tanfield Foods
- Heinz jobs in Australasia to go in restructuring
- Heinz silent over Polish factory expansion talk