Brief: Hain Celestial Says Co Completed Strategic Sale Of Tilda To Ebro Foods S.A. For A Purchase Price Of $342 Million In Cash

Ebro Foods SA

28/08/2019 07:11

Aug 28 (Reuters) - Hain Celestial Group Inc  HAIN.O :
    * HAIN CELESTIAL ANNOUNCES STRATEGIC SALE OF TILDA
    * HAIN CELESTIAL GROUP- HAS COMPLETED STRATEGIC SALE OF
TILDA TO
EBRO FOODS S.A. FOR A PURCHASE PRICE OF $342 MILLION IN CASH
    * HAIN CELESTIAL- PURCHASE PRICE REFLECTS AN ADJUSTED EBITDA
MULTIPLE OF 13.5X, BASED ON ESTIMATED FISCAL YEAR 2019, WHICH CO
WILL REPORT ON AUGUST 29
    * IS EVALUATING DISTRIBUTION ALTERNATIVES FOR REMAINDER TO
MAXIMIZE VALUE TO SHAREHOLDERS
    * EXPECTS TO USE A PORTION OF PROCEEDS FROM DEAL TO PAY OWN
DEBT
    * HAIN CELESTIAL- TILDA EXPECTED TO CONTRIBUTE ABOUT $200
MILLION
IN NET SALES, $25 MILLION OF ADJUSTED EBITDA FOR FISCAL YEAR
ENDING JUNE 30

Source text for Eikon:  ID:nPnbjGZ2xa 
Further company coverage:  HAIN.O 

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