Hain Acquires Para Labs

MELVILLE, N.Y.--Hain Celestial Group Inc. (NASDAQ:HAIN) has purchased the business and assets of Hempstead, N.Y.-based Para Laboratories Inc., including the Queen Helene, Batherapy and Footherapy brands. These beauty, hair and personal care brands combined for $20 million in sales to professional and personal consumers last year. Terms of the transaction, which closed on March 3, were not disclosed.

The acquisition adds significantly to Hain’s growing personal care business, which also includes Jason brands, purchased in mid-2004, and Zia Natural Skincare, purchased in mid-2005. “The acquisition of these brands brings us closer to our objective to build a $100 million personal care business through internal growth and acquisitions,” said Irwin Simon, president and chief executive officer (CEO) of Hain, who noted Para Labs is Hain’s third acquisition in the personal care products category since June 2004. “The distribution of these brands in chain drug and mass channels will enable us to extend our other products in those channels with our Jason, Zia and Earth's Best brands.” He noted Steve Estrin and Joel Estrin, both from Para Labs, will take executive positions in Hain's personal care division and will report to Andrew Jacobson, current personal care manager.