Acquisition increases Hain's Canadian net sales to more than $150m
Hain Celestial Group, an organic and natural products company, recently acquired Belvedere International, a health and beauty care products company that includes the Live Clean personal care brand, which itself has more than 200 baby, body and hair care products. The Live Clean brand is sold primarily in Canada and manufactured in an Ontario facility. Irwin Simon, Founder, President and Chief Executive Officer of Hain Celestial, said: "We are excited by the acquisition of the Live Clean brand, which expands our presence in the personal care category and complements our Avalon Organics, Alba Botanica and JASON brands that we sell into Canada.
"This acquisition increases the scale of our Canadian operations to over $150m in net sales and provides us with opportunities for sales expansion and cost efficiencies as we leverage our existing infrastructure in Canada and our manufacturing and research and development expertise in personal care."
In 2014, Belvedere generated roughly $25m in net sales and is expected to be accretive to Hain Celestial's earnings in fiscal year 2016.