Hain to buy Avalon Natural Products for $120 million
Hain to buy Avalon Natural Products for $120 million
Hain to buy Avalon Natural Products for $120 million
The Hain Celestial Group Inc. said on Monday it would buy Avalon Natural Products Inc., a maker of organic and natural skin and hair care products, for $120 million.
The deal to acquire the Avalon Organics and Alba Botanica brands from private equity firm North Castle Partners, L.L.C. is expected to add to earnings in 2008, Hain said.
"The acquisition of the Avalon Organics and Alba Botanica brands will strengthen Hain Celestial as one of the leading natural and organic personal care products companies in a category that is experiencing double-digit growth," Hain Chief Executive Irwin Simon said in a statement.
In the most recent fiscal year, Avalon and Alba logged sales of over $40 million, Hain said. That would bring Hain's annual personal care sales to about $125 million, Simon said.
Hain recorded overall sales of $739 million in its fiscal year ended in June.
The acquisition is expected to close in early 2007.
Boutique executive search services with best in class global network, contacts and market mastery.
Deeply connected and engaged personal service approach, long-term investment in client community and 25 year history of strong relations with both Multi-National leaders and Private Equity partners.