US natural and organic food group Hain Celestial has deepened its relationship with Singapore conglomerate Yeo Hiap Seng.
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The New York-based company said today (23 April) that the two firms have swapped shares in each other in a deal worth US$6m.
The agreement gives Yeo almost 200,000 extra shares in Hain Celestial. The US group will attain 4m more shares in Yeo. Hain also has the option to buy up to 5% of Yeo’s total stock.
“Hain Celestial expects to launch several co-branded products with Yeo’s later this year as part of our global strategic expansion,” said Hain’s president and CEO Irwin Simon.
Yeo’s key markets are Singapore and Malaysia but the company also sells Asian food products and sauces in Australia, Europe and North America.
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By GlobalData
