Hain Celestial seals sweet deal with Clarks acquisition
Privately-owned Clarks sells a range of maple syrups and honey under the Clarks brand as well as natural sweeteners, such as carob fruit syrup, agave syrup and date syrup. The group also offers dessert sauces including chocolate and strawberry varieties.
Based in Newport, south Wales, the company’s products are sold in retail, food service and industrial channels.
A growth sweetener
Hain Daniels CEO James Skidmore said the acquisition will provide Hain Celestial with the opportunity to grow the natural sweeteners category in the UK.
“I see significant opportunities to further develop the natural sweeteners category. The strength of the Clarks brand puts it in a strong position to capitalise on the growing consumer trends towards more natural and healthier foods,” he commented.
Meanwhile, Clarks founder and managing director Bob Clark said that Hain would provide the company with the necessary investment to step-up growth.
“This is a significant milestone for Clarks Natural Sweeteners and will deliver extra investment to help drive and expand the brand,” he said.
“We’re very much looking forward to working with the Hain Daniels team to continue our growth in new and existing customers.”
Clark is staying on at the business in a consultancy role.
Eyeing the continent
In addition to investing in UK growth, Hain Celestial founder, president and chief executive Irwin Simon revealed the group plans to expand Clarks in Europe. “We… look forward to working with Clarks in expanding the brand's development in the United Kingdom and continental Europe," he said.
"The Clarks brand and products are a strategic fit with the Hain Daniels spreads business for various natural sweeteners applications to complement our health and wellness portfolio of brands as consumers continue to seek to reduce their sugar intake and look for better-for-you alternatives to refined sugar."
Hain Daniels, a subsidiary of Hain Celestial, sells a variety of branded spread products, including Hartley’s jam, Gale’s honey and Sun Pat peanut butter spread.
Hain Celestial, which also owns brands including Ella’s Kitchen, Linda McCartney Foods, has sites in the US, UK, Canada, Belgium, France, Germany and Austria.
Financial details of the transaction were not disclosed. In 2016, Clarks generated around £7m (€7.9m) in sales and Hain said that the acquisition is expected to be earnings accretive in fiscal 2019.
