Announced
Completed
Financials
Tags
Private
Completed
Acquisition
Domestic
Friendly
Food Products
United Kingdom
drinks
fresh fruit patisserie
fresh fruits
ready-to-eat
Majority
Single Bidder
Private Equity
Synopsis
Elaghmore Partners, a private equity firm, completed the acquisition of Orchard House Foods, a fresh fruit products manufacturer and distributor, from Hain Celestial, an organic and natural products company. Financial terms were not disclosed. "We are pleased to complete the strategic sale of our fruit business to Elaghmore. The divestment of this complex, non-core asset fully aligns with our brand simplification and strategic transformation processes. By divesting this business, which was negatively impacted by the Covid-19 pandemic, the remaining Hain Celestial business will show immediate improvement in its growth rate and margins, allowing us to reinvest capital behind the strength of the remaining International platform. We remain confident in our ability to continue to improve our overall margin and cash flow profiles to fuel sustainable long-term growth and profitability," Mark L. Schiller, Hain Celestial President and Chief Executive Officer.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.