(RTTNews) – Organic and natural products company Hain Celestial Group, Inc. (HAIN) Tuesday said its subsidiary Hain Celestial United Kingdom acquired Orchard House Foods Ltd., fruit, juices, fruit desserts and ingredients maker.
Orchard House supplies leading retailers, on-the-go food outlets, food service providers and manufacturers in the United Kingdom.
Financial aspects of the deal were not revealed. For 2016, Hain Celestial expects modest accretion to earnings from Orchard Foods.
Irwin Simon, chief executive officer of Hain Celestial said, “We are excited about the acquisition of Orchard House, which expands our presence in the on-trend fresh category with prepared fruit, drinks and desserts. Orchard House provides us with the opportunity to expand fruit product offerings into continental Europe, as well as new product development with cold pressed juice and branded fruit product offerings in the United Kingdom.”
Through the acquisition, Hain Celestial will get innovative new processing technology to expand the shelf life of fresh fruit and juices.
James Skidmore, managing director of Orchard will report to Jeremy Hudson.
Until formal clearance has been received, Hain Daniels and Orchard House will continue to operate independently; thereafter, the Company expects to deliver synergies and explore growth opportunities. The financial results of Orchard House will be consolidated into the Company’s United Kingdom operating segment.
The company expects to eliminate 1.2 billion tons carbon dioxide equivalent of methane emissions by the end of the decade. The company says that it already reduced its methane emissions by around 14% between 2018 and 2020.
The “first-of-its-kind” pilot project will develop and demonstrate an affordable modular bioprocessing system to produce biodegradable bioplastics from food waste diverted from landfills. The three-year grant will test the scalability and feasibility of the conversion on a national and global scale.
Arkeon is allying with specialty mineral giant ICL to support the scaling of its fermentation bioprocess that converts CO2 into the 20 proteinogenic essential amino acids needed in human nutrition. The process, hailed as carbon negative, is based on the use of archaea, a group of microorganisms that naturally feeds off the greenhouse gas.