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Celestial Seasonings

This article was originally published in The Tan Sheet

Executive Summary

Dietary supplement sales for the second quarter ended March 31 total $1.1 mil., flat compared to a year ago, the company announces April 13. For the six-month period, sales reached roughly $2.8 mil., according to company documents. Sales of 60-count supplements "were slightly lower than our expectations, but we generated a small profit," the firm reports. Overall, net sales reach $34.9 mil. in the quarter, a 10.4% increase, while earnings rise 46.2% to $3.8 mil. On March 6, Celestial announced plans to merge with The Hain Food Group to form The Hain Celestial Group. The move is expected to open new channels of distribution for the tea manufacturer (1"The Tan Sheet" March 13, In Brief)

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Celestial Seasonings

Specialty tea maker acquired by the Hain Food Group in a stock swap valued at about $390 mil., including $9.5 mil. of assumed debt, the two companies announce March 6. Natural food manufacturer Hain says Celestial Seasonings' herbal supplement line will be retained, but cautions that no specific plans have been set. Sales of the line fell from $4.6 mil. in the first quarter of fiscal 1999 to $1.6 mil. in the fiscal 2000 period ending Dec. 31, 1999, according to documents filed with the SEC. The merger is expected to benefit both companies due to their "extremely complementary" distribution channels. Celestial Seasonings sells roughly 80% of its products in mass market channels while approximately 60% of Hain's products are sold in natural food channels

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