Melville / NY. (hc) The Hain Celestial Group Inc., a leading natural and organic products company providing consumers with A Healthy Way of Life, announced the acquisition of Cully + Sully Limited in Ireland. Cully + Sully is a marketer and manufacturer of natural chilled soups, savoury pies and hot pots, all under the Cully + Sully brand, with a range of approximately 20 products. Cully + Sully supplies all major food retailers in Ireland. The founding management team of Cullen Allen (Cully) and Colum O´Sullivan (Sully) will continue to manage all aspects of Cully + Sully reporting to Rob Burnett, Chief Executive Officer, Hain Daniels Group.
«We are pleased to be expanding our international presence into Ireland with Cully + Sully, a leading chilled brand that has delivered consistent, profitable growth since 2004», said Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial. «Cully + Sully´s branded soup is similar to our New Covent Garden Soup Co. brand in the United Kingdom. We are excited about the prospects to expand our presence into the Irish marketplace with our Hain Celestial and Daniels brands and to expand Cully + Sully chilled fresh soups into the United Kingdom. We see a tremendous opportunity for chilled soups as consumers move away from canned soups and into fresh chilled soups. We also welcome two energetic, creative entrepreneurs, Cully and Sully, to the Hain Celestial Europe team. We hope to utilize Cully and Sully´s knowledge and expertise for Hain Daniels and here in the United States as we move chilled fresh soups to the North American marketplace», continued Irwin Simon.
«Since the inception of Cully + Sully, we have always been about natural, good tasting and honest food, where quality and traditional cooking techniques are paramount», commented Cullen Allen. «Joining the Hain Daniels Group will provide us with the opportunity to broaden our product offerings into other categories and to expand the Cully + Sully brand into the United Kingdom», added Colum O´Sullivan.
«As leaders in the chilled category in the United Kingdom, we are excited to be leveraging the Hain Daniels footprint with the creative talent and product offerings of Cully + Sully to further our growth prospects», concluded Rob Burnett. The acquisition is expected to be neutral to Hain Celestial´s earnings in fiscal year 2012 and to be accretive to earnings in fiscal year 2013.
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