Hain Celestial has agreed to acquire US organic and gluten-free bakery group Rudi’s Organic Bakery from Charterhouse Equity Partners for US$61.3m.
Rudi’s generated approximately $60m in net sales in 2013 and the deal is expected to be accretive to Hain Celestial’s earnings in fiscal year 2015, the company said in a statement.
Go deeper with GlobalData
President and CEO Irwin Simon said the acquisition increases Hain Celestial’s exposure to on-trend categories – such as organic and gluten-free – and deepens its representation in the natural foods sector.
“We are very excited by the strategic acquisition of Rudi’s, a leading certified organic bread brand, which expands our participation into 11 of the top 20 natural categories in the United States. At Hain Celestial we look for the latest trends, and consumers are increasing their purchases of whole grains, organic and gluten-free product offerings,” he said.
Rudi’s has about 60 products, including organic breads, bagels, wraps and soft pretzels. Hain said that the company would now look to expand the Rudi’s brand into adjacent sectors.
Hain Celestial has been on something of an acquisition spree in recent years, taking on a variety of businesses including, UK rice supplier Tilda, children’s food business Ella’s Kitchen in the UK and New Covent Garden Soup Co. owner Daniels Group.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
