Hain acquires Pilgrim's turkey operations

Hain Pure Protein Corporation — a joint venture between Pegasus Capital Advisors L.P. and The Hain Celestial Group Inc. — announced that its newly formed wholly owned subsidiary, New Oxford Foods LLC, has acquired Pilgrim's Pride Corp.'s turkey production facility and distribution center in New Oxford PA.

“This strategic investment positions Hain Pure Protein at the forefront of the natural and organic sector of the poultry industry and gives us capabilities to expand our offerings of branded, premium products,” said Irwin D. Simon, president and chief executive officer of Hain Celestial.

New Oxford Foods will become part of the Hain Pure Protein reporting unit, which is consolidated into the results of Hain Celestial. Hain Celestial expects that the addition of New Oxford Foods will be accretive to earnings in its fiscal 2009 year. Terms of the acquisition, which closed March 10, were not disclosed.