Organic and natural products company Hain Celestial Group, Inc. (HAIN) Monday announced the acquisition of Tilda Limited, a premium branded Basmati and specialty rice products company. The company did not reveal the terms of the acquisition.
The company expects the acquisition to be accretive to its adjusted earnings in the second half of fiscal year 2014 by $0.06 to $0.10 per share.
The Tilda brand offers a range of over 60 dry rice and ready-to-heat branded products principally in the United Kingdom, the Middle East and North Africa, Continental Europe, North America and India. In calendar year 2013, Tilda generated approximately $190 million in net sales.
The company noted that Tilda's existing, fast-growing markets in MENA and India provide it with new markets for expansion of its global brands.
Rohit Samani, Tilda Managing Director—UK, will be responsible for Tilda and Hain Celestial's growth into these new markets, the company noted.
Irwin Simon, Founder, President and Chief Executive Officer of Hain Celestial, said, "Tilda is an important part of Hain Celestial's worldwide expansion to offer organic and natural products to a global consumer base as we continue to strive to "Change the Way the World Eats" with nutritious product offerings."
In the deal, Hain Celestial was advised by Jefferies Inc. and DLA Piper. Tilda was advised by Rothschild and Dechert LLP.
Hain Celestial closed Friday's trading at $90.12, down $0.03 or 0.03 percent.
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