Hain Celestial solidifies better-for-you food portfolio with this deal
Not only does the Hain Celestial Group Inc.'s (Nasdaq: Hain) acquisition of Clarks UK Ltd. expand the company's international presence, but also grows its better-for-you food offerings. A number of food conglomerates, including Hain Celestial, are looking for acquisitions in the healthy food segment.
"The Clarks brand and products are a strategic fit with the Hain Daniels spreads business for various natural sweeteners applications to complement our health and wellness portfolio of brands as consumers continue to seek to reduce their sugar intake and look for better-for-you alternatives to refined sugar," says Hain CEO Irwin Simon. Newport, United Kingdom-based Clarks produces natural sweeteners, such as maple syrup, that are sold under the Clarks brand throughout the U.K. Financial terms of the purchase were not disclosed.
This is not the first deal that Lake Success, New York-based Hain Celestial has made recently. Earlier in 2017, the company acquired the Better Bean Co. and soup maker Yorkshire Provender Ltd. Hain Celestial owns the Earth's Best, Ella's Kitchen and Garden of Eatin' brands.
Consumers are more informed and are demanding fresher, healthier, and better-for-you food options. B&G Foods Inc.’s (NYSE: BGS) is buying Back to Nature Foods Co. from Brynwood Partners; Kellogg Co. (NYSE: K) has agreed to acquire protein bar maker RXbar for about $600 million; Utz Quality Foods LLC is acquiring better-for-you food manufacturer Inventure Foods Inc. (Nasdaq: SNAK) for approximately $165 million.