Hain Celestrial continues European investment
this week that it has completed its acquisition of Lima NV, a
Belgian natural and organic foods manufacturer and marketer.
Natural and organic food company Hain Celestial Group, announced this week that it has completed its acquisition of Lima NV, a Belgian natural and organic foods manufacturer and marketer.
The acquisition aims to increase Hain Celestial's European distribution and manufacturing capabilities, and to provide the company with a strong platform for the expansion of its European operations.
Irwin D. Simon, Chairman, President and Chief Executive Officer of The Hain Celestial Group said, "This acquisition is the next critical step in our strategy to accelerate growth in Europe, a process that began earlier this year with the acquisition of Fruit Chips."
In its current fiscal year, Lima's and Biomarche's combined revenues are expected to exceed $20 million (€22.4 million). The transaction is expected to be accretive in the first full fiscal year following the acquisition.
