07.08.10
The Hain Celestial Group, Melville, NY, has acquired the assets and business of 3 Greek Gods LLC, including its Greek Gods brand of all-natural, Greek-style yogurt. The transaction is expected to be immediately accretive to Hain Celestial's earnings.
Greek-style and specialty yogurt grocery sales grew more than 100% in the last year while over the last three years the overall yogurt category has experienced only a mid-single digit compound annual growth rate. Greek Gods authentic Greek-style yogurt is thicker and creamier than conventional-style yogurt and generally higher in protein and lower in carbohydrates and sodium. Greek Gods yogurt is a leading brand in the natural channel having experienced double-digit growth over the last year.
"The strategic acquisition of the Greek Gods brand, a leader in Greek-style yogurt, expands our product offerings into the yogurt category, said Irwin Simon, president and CEO of Hain Celestial. “We believe it will provide us with the opportunity to leverage our existing brands with product extensions in the category.”
Greek Gods founders will join Hain Celestial as General Managers continuing as part of Hain Celestial's Greek Gods Division.
Greek Gods yogurt generated sales of more than $10 million in calendar year 2009. Terms of the acquisition were not disclosed.
Greek-style and specialty yogurt grocery sales grew more than 100% in the last year while over the last three years the overall yogurt category has experienced only a mid-single digit compound annual growth rate. Greek Gods authentic Greek-style yogurt is thicker and creamier than conventional-style yogurt and generally higher in protein and lower in carbohydrates and sodium. Greek Gods yogurt is a leading brand in the natural channel having experienced double-digit growth over the last year.
"The strategic acquisition of the Greek Gods brand, a leader in Greek-style yogurt, expands our product offerings into the yogurt category, said Irwin Simon, president and CEO of Hain Celestial. “We believe it will provide us with the opportunity to leverage our existing brands with product extensions in the category.”
Greek Gods founders will join Hain Celestial as General Managers continuing as part of Hain Celestial's Greek Gods Division.
Greek Gods yogurt generated sales of more than $10 million in calendar year 2009. Terms of the acquisition were not disclosed.