Ebro Foods, the leading company in the Spanish food processing sector, acquired Tilda, a premium basmati and specialty rice brand, from Hain Celestial, a leading organic and natural products company, for $342m. "We are pleased to complete the strategic sale of Tilda, which is consistent with our transformational plan to simplify our portfolio, strengthen our core capabilities and expand margins and cash flow," commented Mark L. Schiller, Hain Celestial's President and Chief Executive Officer. "Tilda has been a strong business for us, primarily in the United Kingdom, and under new strategic ownership, we expect the brand to continue to thrive. We believe this transaction represents a significant premium to a majority of other European food and global rice and pasta industry transactions over the last several years. In addition, this divestiture will enable us to reduce our exposure to marketplace disruption associated with the uncertainty of Brexit and additional future potential foreign currency fluctuations."