Hain Celestial has announced the acquisition of plant-based food and beverages maker Mona, which operates facilities in Germany and Austria.
Mona, based in Austria, sells organic and natural products under the Joya and Happy brands including soy, oat, rice and nut-based drinks as well as plant-based yoghurts, desserts, creamers and tofu. The group also manufactures private-label products sold across Europe.
In 2014 Mona had approximately US$50m in net sales and is expected to be accretive to Hain Celestial's earnings in fiscal year 2016. With the acquisition Hain Celestial will have three facilities in Europe producing plant-based beverages, two in Germany and one in Austria, serving the European markets.
Mona is owned by several venture capital groups and members of current and former management.
"We are excited by the acquisition of Mona, which expands our presence in plant-based products in Europe, solidifying our leadership position in the category… This acquisition increases the scale of our plant-based operations to over $100m net sales in Europe in a growing category of branded and private label products, while providing us with additional manufacturing capacity," said Irwin Simon, founder, president and CEO of Hain Celestial.
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"Mona also presents us with the opportunity to expand our European product offerings…into Austria, Germany and other central and eastern European countries, including the Czech Republic, Hungary, Romania, Serbia and Slovakia. We plan to create sales opportunities with plant-based beverages and yoghurt, which we have successfully introduced in the United States, expand the refrigerated category into desserts, extend the reach of our global brands…and leverage our existing infrastructure, manufacturing and research and development expertise for cost efficiencies."
Bart Dobbelaere, CEO of Hain Celestial's European arm, added: "We believe plant-based foods will become more and more a part of our daily diets. With this acquisition we will be able to further expand our healthy food offerings and capitalise on plant-based eating trends."
