US snack and natural food company Hain Celestial Group, Inc. announced on Thursday that it had acquired privately held Fruit Chips B.V., a Dutch manufacturer of low-fat chips based in The Netherlands. Under terms of the transaction the current owners of Fruit Chips B.V. will receive $2.5 million in cash and $3.5 million payable in shares of Hain Celestial common stock in exchange for all of the outstanding capital stock of Fruit Chips B.V. Hain Celestial will also assume net debt of $2.3 million. Fruit Chips currently manufactures fruit, vegetable and potato chips under the Gaston's brand name and also produces similar products under private label brands for customers including Marks & Spencer and Knorr. Irwin D. Simon, Chairman, President and Chief Executive Officer of The Hain Celestial Group commented, "This acquisition is an exciting opportunity for the Hain Celestial Group, as we realise our commitment to introduce our brands into Europe."
