Hain Celestial to Acquire Spectrum Organic Products

The Hain Celestial Group, Inc. (Nasdaq: HAIN), a leading natural and organic food and personal care products company, announced its intention to purchase Spectrum Organic Products, Inc. (OTC Bulletin Board: SPOP). Hain Celestial will pay approximately $0.705 per share, adjusted to reflect Spectrum’s estimate of expenses and the price adjustment provisions of the agreement, to Spectrum shareholders consisting of approximately 50% in Hain Celestial common shares and 50% in cash. The transaction is expected to close in November and to be accretive to Hain Celestial earnings. Spectrum is a California-based leading manufacturer and marketer of natural and organic culinary oils, vinegars, condiments and butter substitutes under the Spectrum Naturals brand and essential fatty acid nutritional supplements under the Spectrum Essentials brand, sold mainly through natural food retailers. Spectrum reported sales for its last fiscal year of $49.9 million. “Spectrum has been a well-respected producer of natural and organic oils in the natural food channels for many years, and adding their range of offerings in this category to Hain Celestial’s existing portfolio gives us another opportunity to offer our customers additional category-leading products,” said Irwin D. Simon, President and Chief Executive Officer of Hain Celestial. “We look forward to expanding Spectrum […]

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