Hain Celestial Acquires Linda McCartney Brand Products

MELVILLE, N.Y.--The Hain Celestial Group (NASDAQ:HAIN) has purchased the Linda McCartney® frozen meat-free business, including a manufacturing facility based in Fakenham, England, from the H.J. Heinz Company, a former major investor in HAIN. Details of the transaction were not disclosed, but Hain reported it expects the acquisition to be accretive to the earnings of Hain Celestial during its fiscal year 2007.

"We now have the premier meat-free brand, which will further support our expansion of natural and organic products; acquiring the Linda McCartney range of vegetarian products reinforces our commitment to growing in this marketplace," said Irwin D. Simon, president and chief executive officer (CEO) of the Hain Celestial Group. "We are excited to have the opportunity to work with the McCartney family in expanding the Linda McCartney frozen meat-free business in the United Kingdom and the rest of Europe as well as throughout North America." In May, Hain purchased the Luton, England-based Fresh Prepared Foods business from Heinz.

In a statement, the McCartney family commented: "We are delighted to be joining together with Hain Celestial, a leading light in organic, natural products, to produce an even better range of foods than we have ever made before. We believe that the visions of both our companies fit perfectly with our desire to encourage more and more people to eat pure, vegetarian food. It was this desire that motivated Linda when she started Linda McCartney Foods originally, and we hope to continue her good work and in doing so, her legacy."