The Canadian subsidiary of Hain Celestial has acquired the Europe’s Best vegetable brand from US food group JM Smucker.
Hain Celestial announced the deal yesterday (5 October) and expects the acquisition to be accretive to earnings in fiscal year 2012.
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The assets include all natural, frozen fruit and vegetable products. Terms of the acquisition were not disclosed.
“With this strategic acquisition we plan to expand Europe’s Best product lines into other channels of distribution in North America, and we will leverage the talented team we have in place at Hain Celestial Canada,” Hain Celestial president and CEO Irwin Simon said.
The Europe’s Best product line includes 24 premium fruit and vegetable products distributed in Canada.
Beena Goldenberg, president of Hain Celestial’s Canadian operations, said: “We plan to cross promote Europe’s Best with other Hain Celestial brands to create healthier eating options including smoothies and yogurt. We also expect to expand into organic fruits and vegetables and drive multi-brand growth with product extensions and on-the-go product offerings.”
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