The Hain Celestial Group (Nasdaq: HAIN), the leading natural and organic food company, today announced that its Board of Directors has authorized a stock repurchase program.
Irwin D. Simon, Chairman, President and Chief Executive Officer, said, “Given recent events, we believe that this stock repurchase benefits our shareholders, and demonstrates how good we feel about the outlook for our business, and shows our confidence that Hain Celestial will play a full role at this time in our nation’s economy.”
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The timing and amount of any shares repurchased will be determined by the company’s management based on its evaluation of market conditions and other factors. The repurchase program may be suspended or discontinued at anytime. Any share repurchases under this program may be made, from time-to-time, in the open market, through block trades or otherwise. Depending on market conditions and other factors, these purchases may be commenced or suspended at any time or from time-to-time without prior notice. As of September 17, 2001, The Hain Celestial Group has approximately 33.8 million shares outstanding.
About The Hain Celestial Group
The Hain Celestial Group, headquartered in Uniondale, NY, is a natural, specialty and snack food company. The Company is a leader in 13 of the top 15 natural food categories, with such well-known natural food brands as Celestial Seasonings (R) teas, Hain Pure Foods®, Westbrae®, Westsoy®, Arrowhead Mills®, Health Valley®, Breadshop’s®, Casbah®, Garden of Eatin®, Terra Chips®, Yves Veggie Cuisine®, The Good Dog (R), The Good Slice®, DeBoles®, Earth’s Best®, and Nile Spice. The Company’s principal specialty product lines include Hollywood® cooking oils, Estee® sugar-free products, Weight Watchers® dry and refrigerated products, Kineret® kosher foods, Boston Better Snacks®, and Alba Foods®. The Hain Celestial Group’s website can be found at http://www.hain-celestial.com.
Statements made in this Press Release that are estimates of past or future performance are based on a number of factors, some of which are outside of the Company’s control. Statements made in this Press Release that state the intentions, beliefs, expectations or predictions of The Hain Celestial Group and its management for the future are forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Information concerning factors that could cause actual results to differ materially from those in forward-looking statements is contained from time to time in filings of The Hain Celestial Group with the U.S. Securities and Exchange Commission. Copies of these filings may be obtained by contacting The Hain Celestial Group or the SEC.
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