HPP, an antibiotic-free and organic poultry company, offers a full range of fresh and frozen FreeBird chicken and Plainville Farms turkey and private label products in the US.
In fiscal year 2014, HPP is expected to generate over $230m in net sales, a double-digit increase over the prior year, and is expected to be accretive to Hain Celestial’s earnings in fiscal year 2015 by $0.03 to $0.05 per diluted share.
Hain Celestial plans to continue to improve HPP’s results by leveraging its sales network, marketing and administrative functions and improving productivity.
“We are very excited about the strategic acquisition of HPP,” said Irwin D Simon, founder, president and CEO of Hain Celestial. “Our joint venture has successfully grown from incubation to over $200m in net sales by focusing on antibiotic-free and organic poultry. While we have enjoyed partnering with Pegasus for many years, having Freebird chicken and Plainville Farms turkey as part of Hain Celestial’s branded product portfolio provides us with a wide array of farm-to-table product offerings from fresh to deli and foodservice in a growing category that appeals to those seeking ‘the pure foods trend’, including our core natural and organic consumers.”
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