The Hain Celestial Group acquires Belvedere International, Live Clean brand

LAKE SUCCESS, N.Y. — Organic and natural products company The Hain Celestial Group has acquired Belvedere International, a provider of health and beauty care products, including the Live Clean brand with approximately 200 baby, body and hair care products as well as several mass market brands sold primarily in Canada.



Financial terms of the deal were not disclosed.



"We are excited by the acquisition of the Live Clean brand, which expands our presence in the personal care category and complements our Avalon Organics, Alba Botanica and JASON brands that we sell into Canada. This acquisition increases the scale of our Canadian operations to over $150 million in net sales and provides us with opportunities for sales expansion and cost efficiencies as we leverage our existing infrastructure in Canada and our manufacturing and research and development expertise in personal care," explained Irwin Simon, founder, president and CEO of Hain Celestial.



In 2014, Belvedere had approximately $25 million in net sales and is expected to be accretive to Hain Celestial's earnings in fiscal year 2016.  Belvedere, which was founded by Rocco Donald Belvedere in 1981, was a family-owned company led by Larry Romagnuolo, president and CEO.



"I am pleased the employees of Belvedere are joining Hain Celestial Canada, who can ensure the next level of growth for the personal care business established by my family 34 years ago, and I look forward to working with Beena Goldenberg and the Hain Celestial team in pursuing new opportunities as part of a leading organic and natural products company," stated Romagnuolo.



"We thank the Belvedere family for their contributions in creating the Live Clean brand and welcome Larry Romagnuolo as GM Hain Celestial Canada Personal Care, who will be responsible for the Live Clean brand as well as our Avalon Organics, Alba Botanica and JASON brands in Canada. We look forward to working with Larry and his team to expand our personal care manufacturing in Canada," stated Simon.