HAIN CELESTIAL BUYS EMPIRE KOSHER POULTRY

The Hain Celestial Group announced its acquisition of the remaining 80 percent of Empire Kosher Poultry’s parent company, EK Holdings, for $57.6 million, not including debt.

Hain Celestial gained a 19 percent interest in Empire, when Hain Pure Protein Corporation purchased Empire brand Kosher Valley, which supplies certified kosher, antibiotic-free, vegetarian-fed, and humanely raised chicken and turkey products, in 2010. Empire, which also sells organic and gluten-free products, made about $100 million in net sales in 2014.

The deal will integrate Empire into Hain Celestial by fiscal year 2016. Hain Celestial founder, president and CEO Irwin D. Simon said in a statement that Empire will expand the company’s Farm to Table product lines, which are growing to meet the demand from Hain Celestial’s core consumers.

The company plans to expand in the deli and fresh prepared foods categories. Jeffrey N. Brown will remain as Empire as CEO, reporting to Simon.

Posted on April 20, 2015 at 12:04 am by Rabbi Jeffrey Rappoport · Permalink
In: General Topics, Holidays, Kosher Kitchen, Kosher News, Passover, Uncategorized

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