Hain Celestial (HAIN) Acquires MaraNatha and SunSpire Brands
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The Hain Celestial Group, Inc. (Nasdaq: HAIN) announced the acquisition of the MaraNatha and SunSpire brands and their nut butter manufacturing facility in Ashland, Oregon from American Capital Strategies, Ltd. (Nasdaq: ACAS). MaraNatha, a producer of natural and organic nut butters, and SunSpire, a maker of natural and organic chocolate products, are leading brands in their respective categories. A majority of the brands' sales are through natural food retailers.
The MaraNatha and SunSpire brands generated sales of approximately $40 million in the United States and Canada in the last year. Terms of the acquisition, which closed today, were not disclosed. The transaction is expected to be accretive to Hain Celestial's earnings during its fiscal year 2009. [SM]
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