The Hain Celestial Group,
Inc. HAIN, a leading organic and natural products company with
operations in North America, Europe and India providing consumers with A
Healthier Way of Life™, today announced the acquisition of Belvedere
International, Inc., ("Belvedere") a leader in health and beauty care products
including the Live Clean® brand with approximately 200 baby, body and hair
care products as well as several mass market brands sold primarily in Canada
and manufactured in a company facility in Mississauga, Ontario, Canada.
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"We are excited by the acquisition of the Live Clean brand, which expands our
presence in the personal care category and complements our Avalon Organics®,
Alba Botanica® and JASON® brands that we sell into Canada. This acquisition
increases the scale of our Canadian operations to over $150 million in net
sales and provides us with opportunities for sales expansion and cost
efficiencies as we leverage our existing infrastructure in Canada and our
manufacturing and research and development expertise in personal care," said
Irwin D. Simon, Founder, President and Chief Executive Officer of Hain
Celestial.
"It is with great pride that I see my family's business become part of the
esteemed Hain Celestial Group. I believe under their stewardship the Live
Clean brand will reach great heights," said Sandra Belvedere.
The Live Clean brand is the leading natural hair care and baby care brand in
Canada. In calendar year 2014 Belvedere had approximately $25 million in net
sales and is expected to be accretive to Hain Celestial's earnings in fiscal
year 2016. Belvedere, which was founded by Rocco Donald Belvedere in 1981, was
a family-owned company led by Larry Romagnuolo, President and Chief Executive
Officer.
"The Live Clean brand establishes a personal care base of operations in Canada
for Hain Celestial, which can serve as the foundation for the continued growth
of all our personal care brands and provide us with an opportunity to expand
the brand beyond the Canadian mass channel," commented Beena Goldenberg,
President of Hain Celestial Canada.
"I am pleased the employees of Belvedere are joining Hain Celestial Canada,
who can ensure the next level of growth for the personal care business
established by my family 34 years ago, and I look forward to working with
Beena Goldenberg and the Hain Celestial team in pursuing new opportunities as
part of a leading organic and natural products company," said Larry
Romagnuolo.
"We thank the Belvedere family for their contributions in creating the Live
Clean brand and welcome Larry Romagnuolo as General Manager Hain Celestial
Canada Personal Care, who will be responsible for the Live Clean brand as well
as our Avalon Organics®, Alba Botanica® and JASON brands in Canada. We look
forward to working with Larry and his team to expand our personal care
manufacturing in Canada," concluded Irwin Simon.
The Hain Celestial Group, Inc. The Hain Celestial Group HAIN,
headquartered in Lake Success, NY, is a leading organic and natural products
company with operations in North America, Europe and India. Hain Celestial
participates in many natural categories with well-known brands that include
Celestial Seasonings®, Earth's Best®, Ella's Kitchen®, Terra®, Garden of
Eatin'®, Sensible Portions®, Health Valley®, Arrowhead Mills®, MaraNatha®,
SunSpire®, DeBoles®, Casbah®, Rudi's Organic Bakery®, Gluten Free Café™, Hain
Pure Foods®, Spectrum®, Spectrum Essentials®, Walnut Acres Organic®, Imagine®,
Almond Dream®, Rice Dream®, Soy Dream®, WestSoy®, The Greek Gods®, BluePrint®,
FreeBird®, Plainville Farms®, Yves Veggie Cuisine®, Europe's Best®, Cully &
Sully®, New Covent Garden Soup Co.®, Johnson's Juice Co.®, Farmhouse Fare®,
Hartley's®, Sun-Pat®, Gale's®, Robertson's®, Frank Cooper's®, Linda
McCartney®, Lima®, Danival®, Natumi®, GG UniqueFiber®, Tilda®, JASON®, Avalon
Organics®, Alba Botanica®, Live Clean® and Queen Helene®. Hain Celestial has
been providing A Healthier Way of Life™ since 1993. For more information,
visit www.hain.com.
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