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Hain Celestial seals deal to buy UK jams and peanut butter brands

30-Oct-2012

Hain Celestial has completed the deal to acquire jams, spreads and peanut butter brands including Hartley's, Sun–Pat , Gale's , Robertson's, and Frank Cooper's,  from UK firm Premier Foods for £170m ($272m) in cash and 836,426 shares of its common stock. 

The business being acquired (which includes a manufacturing plant in Cambridge, UK) generated more than $250m in sales in its last fiscal year, and will become part of Hain’s UK subsidiary Hain Daniels Group, which includes the chilled New Covent Garden Soup and frozen Linda McCartney brands.

Hain Daniels CEO Rob Burnett said: "We believe creating an ambient grocery division through the acquisition and integration of these Premier Foods brands with its experienced workforce will strengthen this proposition.”