Hain Celestial, a US-based organic and natural products maker, has acquired Rudi's Organic Bakery, an organic and gluten-free company with facilities in Boulder, Colorado, for $61.3m.
Under the its Organic Bakery and Gluten-Free Bakery brands, Rudi's provides a range of nearly 60 products including USDA-certified organic breads, buns, bagels, tortillas, wraps and soft pretzels and GFCO-certified natural breads, buns, pizza crusts, tortillas, snack bars and stuffing in the US and Canada.
According to Hain Celestial, the acquisition is expected to be accretive to its earnings in fiscal year 2015.
Hain Celestial founder, president and chief executive officer Irwin Simon said that company plans to build upon Rudi's leadership position and see the opportunity to take Rudi's into other categories where the brand does not have products today.
"We have a proven ability to expand great brands and products into various channels of distribution including the conventional, mass and club channels where we see significant opportunities for increased distribution.
"We expect to deliver significant synergies through top line sales and bottom line cost efficiencies by effectively leveraging the platform of Hain Celestial US, as we have successfully demonstrated with previous acquisitions," Simon added.
