MELVILLE, N.Y.,
Aug. 23, 2005: The Hain Celestial Group, a
leading natural and organic food and personal care products
company, announced the signing of a definitive agreement
and plan of merger with Spectrum Organic Products, Inc,
a California-based leading manufacturer and marketer
of natural and organic culinary oils, vinegars, condiments
and butter substitutes. Under the terms of the agreement,
Hain Celestial has agreed to pay approximately $0.705
per share. The transaction is expected to close in November.
Hain Celestial president and CEO, Irwin D. Simon, applauded
the opportunity to expand Hain’s reach in the
niche market, "Spectrum has been a well-respected
producer of natural and organic oils in the natural
food channels for many years, and adding their range
of offerings in this category to Hain Celestial's existing
portfolio gives us another opportunity to offer our
customers additional category-leading products.”
|
