Hain Celestial plans to strike up to three more acquisitions in the UK and Europe within the next three years, the managing director of its UK business has told just-food.
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David Arrow said the US-based company, which produces a range of natural and organic foods, wants to boost its presence worldwide.
“Hain is looking to have a global presence,” Arrow said today (17 May). “Over the next two to three years, we’re looking at at least another two to three acquisitions, which are either stand-alone or bolt-on and which would be complementary to what we’re doing here.”
Over the last 12 months, Hain has made three acquisitions in the UK, including the Linda McCartney range of vegetarian products. Arrow said he wants to grow turnover in the UK from its current level of GBP60m (US$118m) to GBP150m in the next two years, both through organic growth and acquisitions.
Hain has identified a number of potential targets but Arrow remained tight-lipped on the company’s intentions. “There are certain businesses we’ve got a focus on. Whether they are available, time will tell,” Arrow said. “We like turning business around, we like buying businesses with value in them that require turnaround and that require a different management approach.”
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By GlobalDataArrow added: “We have got the capability of doing deals. We’ve demonstrated that here in the last 12 months and we’ll continue to do that. We’re an acquiring business.”
