Hain Celestial Completes College Hill Purchase, Kiniret Sale

Hain Celestial Completes College Hill Purchase, Kiniret Sale

MELVILLE, N.Y.Hain CelestialGroup (NASDAQ:HAIN) completed both the sale of its Kiniret and Kosherific frozenfood brands to Kedem Food Products International, as well as the purchase of thepoultry processing assets of College Hill Poultry. Kiniret, one of Hainsfirst acquisitions, was a growing category but was divested when the companydecided to streamline its business by refocusing on its natural and organicbrands. Irwin Simon, president and chief executive officer, said Kedem is aspecialty brand innovator and will take Kiniret and Kosherific to another levelof success.

On the other hand, Hain partnered with Pegasus CapitalAdvisors LP to create Hain Pure Protein Corp., which will absorb the assets ofFredericksburg, Pa.-based College Hill, a free-range chicken farm. The chickensare grain-fed without antibiotics or animal byproducts and are sold under theRaise Right brand to supernatural and conventional supermarkets, natural foodstores and food service outlets.