Hain Celestial has today (25 October) confirmed the acquisition of UK chilled foods firm Daniels Group.
The US company has paid around US$230m to Daniels owner Singapore foodservice group SATS. The deal follows speculation earlier this month that Hain Celestial was in talks to buy Daniels, which owns brands including New Covent Garden Co. soups.
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Hain Celestial president and CEO Irwin Simon said the addition of Daniels’ products to its portfolio, which includes the Linda McCartney meat-free brand, would “create a powerhouse” in the fresh and frozen natural sector in the UK.
Simon said the deal would also help Hain expand the international presence of both companies brands.
“We believe the acquisition will also provide us with scale in our international operations to allow us to introduce some of our existing global brands including Rice Dream, Celestial Seasonings, Earth’s Best, Terra Chips and Sensible Portions, in a more meaningful way in the marketplace,” Simon said. “We will also look to expand the distribution of certain Daniels brands throughout the rest of Europe utilising our European-based sales organisation.”
Daniels chief executive Rob Burnett will become CEO of Hain Celestial UK, reporting to president and CEO of Hain Celestial, Irwin Simon.
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By GlobalDataBased in Leeds, Daniels manufactures products, which also include Farmhouse Fare puddings, at six facilities in the UK.
Over the next year, Hain Celestial said it expects to “achieve synergies in purchasing and procurement and warehousing and distribution”.
Daniels generated sales of approximately $280m in its last fiscal year.
