Hain Celestial adds Avalon
This article was originally published in The Rose Sheet
Executive Summary
Hain Celestial will acquire Avalon Natural Products, including the Avalon Organics and Alba Botanica personal care brands, from North Castle Partners private equity firm for $120 million in cash, company announces Dec. 18. Subject to approval, the transaction is expected to close in early 2007 and be accretive to the firm's fiscal year 2008 earnings. Avalon and Alba are expected to "strengthen Hain Celestial as one of the leading natural and organic personal care products companies in a category that is experiencing double-digit growth," company President and CEO Irwin D. Simon said. With Alba and Avalon exceeding $40 million in sales for FY 2006, the exec expects Hain Celestial to have "a strong foundation in the personal care market with sales of $125 million." Hain Celestial's portfolio includes the Jason, Zia Natural Skincare and Queen Helene brands...
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Melville, N.Y. company completes its acquisition of Avalon Natural Products Jan. 11, gaining Avalon Organics and Alba Botanica personal care brands. Hain Celestial announced plans in December to purchase the company from North Castle Partners for $120 mil. in cash (1"The Rose Sheet" Jan. 1, 2007, In Brief). Calling personal care a "rapidly growing contributor" to sales and profit, President and CEO Irwin D. Simon says the new brands provide "a strong, well-rounded" personal care portfolio, while helping to "solidify [the company's] leadership position in the natural and organic personal care category." Hain Celestial also markets the Jason, Zia Natural Skincare and Queen Helene brands...
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