Hain Celestial acquires Plainville Turkey Farm

Sept. 1, 2007
The Hain Celestial Group Inc has acquired Plainville Turkey Farm Inc through its Hain Pure Protein Corp joint venture, of which the company controls 50.1%

The Hain Celestial Group Inc has acquired Plainville Turkey Farm Inc through its Hain Pure Protein Corp joint venture, of which the company controls 50.1% with the remaining minority interest of 49.9% owned by Pegasus Capital Advisors LP.

Based near Syracuse NY, Plainville has been growing and processing turkey since 1923 and is a leading supplier of natural and antibiotic-free whole turkeys and deli turkey products. It primarily serves the natural and grocery channels in the Northeast and Mid-Atlantic regions. Plainville generated approximately $30 million in sales in its last fiscal year. The company expects the transaction to be slightly accretive to earnings in fiscal year 2008.

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