A Nasdaq-listed natural products company selling a fruit business in Northamptonshire to a Warwickshire-based private equity firm has been named as the Deal of the Month for January.
The Hain Celestial Group divested Orchard House Foods, which has a base in Corby, to Elaghmore in Leamington Spa for an undisclosed sum. At the time of the deal, Mark L. Schiller, Hain Celestial’s president and chief executive, said: “We are pleased to complete the strategic sale of our fruit business to Elaghmore, a private equity firm focused on buying and growing UK businesses.
“The divestment of this complex, non-core asset fully aligns with our brand simplification and strategic transformation processes. By divesting this business, which was negatively impacted by the Covid-19 pandemic, the remaining Hain Celestial business will show immediate improvement in its growth rate and margins, allowing us to reinvest capital behind the strength of the remaining International platform.”
Read more/Source: Insider
