Following to a successful quarter with record sales, the Hain Celestial Group Inc is said to remain confident in continuing growth from recent acquisitions and is predicting particular gains for its Rudi’s brand, expecting it to achieve a value of $100 million.
Hain purchased Rudi’s Organic Bakery, a leader in the natural channel with a presence in growth categories such as wholegrains, organic and gluten free, for $61.3 million in April.
Commenting on the acquisition, John Carroll, executive vice-president and chief executive officer of Hain Celestial, said: “We believe Rudi’s Organic Bakery will be Hain Celestial’s next $100 million brand. Rudi’s is growing strongly in both the organic and gluten-free segments. They have a tremendous innovation queue in place, and we believe the brand is extendable beyond bread and baked goods”.
Source: Food Business News