US-based organic and natural foods producer Hain Celestial Group is eyeing growth in Europe following its recent acquisition of two UK-based operations from Heinz, including the Linda McCartney frozen meat-free brand. Ben Cooper reports.
While food companies are being constantly blamed for rising levels of obesity and bad diet, the organic boom is evidence of the contrasting trend in the market towards healthier eating. However, writes Ben Cooper, keeping up with rising demand has been difficult and is unlikely to get any easier with the boom showing no sign of slowing up.
The Hain Celestial Group today (3 May) reported strong earnings and sales growth for the third quarter, with record sales up 22% from Q3 2005 to US$196.4m and net income of $9.7m, a 27% increase from the third quarter of last year. Diluted earnings were $.025 per share for the quarter.