Hain Celestial Group

The Hain Celestial Group
Public
Traded as NASDAQ: HAIN
S&P 400 Component
Industry Foodstuffs, personal care products, and meat alternative products
Founded 1993
Headquarters Lake Success, New York, United States
Key people
 Irwin D. Simon, President and CEO
Revenue Increase$2.69 Billion USD (2015)
Number of employees
 6,307 (2016 figure)
Website www.hain-celestial.com

The Hain Celestial Group is an American food company whose main focus is foods and personal care products. Their products range from herbal teas, offered through their Celestial Seasonings brand, to chickens from the FreeBird brand. They also provide whole grain foods through Arrowhead Mills. The company assumed its current form in May 2000 through the merger of the Hain Food Group with Celestial Seasonings, Inc. Its UK subsidiary is Hain Daniels.[1]

History

The H. J. Heinz Company acquired 19.5% of the company in 1999,[2] but subsequently divested itself of all holdings in 2005.[3] On May 7, 2002, the company prior year periods had been restated by reclassifying promotional allowances and other sales incentives of $16.8 million in the third quarter of 2001.[4] On January 13, 2014, the company acquired the rice company Tilda for $357 Million.[5]

Controversies

In 2013 Hain Celestial became one of 25 companies targeted in an ongoing class action lawsuit regarding allegations of falsely labeling their personal care products (including Celestial Seasonings) as 'organic' under California law (California Products Act of 2003) to mislead consumers into purchasing them.[6][7][8][9] According to Glaucas Research Group and Eurofins, many of these products, including beverages, are filled with high levels of pesticide, far above US federal limits.[10]

In 2015 Hain Celestial Group reached a settlement and agreed to pay consumers a $7.5 million dollar compensation for mislabeling their products with an additional 2.4 million worth of coupons.[11][12][13]

Companies

Beverages

Foods & Snacks

Hain Pure Protein

Specialty

Personal Care

See also

References

  1. ↑ "Our Business". Hain Daniels. Retrieved April 24, 2017.
  2. ↑ Heinz to Purchase Additional Equity in Hain Celestial to Restore Investment Level to 19.5 Percent
  3. ↑ Howard, Philip H (Winter 2009). "Organic Industry Structure". Media-N: Journal of the New Media Caucus. 5 (3). Retrieved 2012-01-02. Heinz acquired a 19.5% stake in Hain Celestial in 1999 while also transferring ownership of their Earth's Best brand, but sold all of its Hain Celestial stock in 2005.
  4. ↑ "The Hain Celestial Group Reports Third Quarter Results.".
  5. ↑
  6. ↑ "Organic Product Lawsuit: Center for Environmental Health Sues Dozens". Joanna Lin. The Huffington Post California. June 20, 2011. Retrieved November 14, 2014.
  7. ↑ https://www.truthinadvertising.org/wp-content/uploads/2013/11/Von-Slomski-v.-The-Hain-Celestial-Group-.pdf
  8. ↑ "Hain Celestial Buyers Seek Class Cert. On 'Organic' Claims". Beth Winegarner. Law360. November 6, 2014. Retrieved November 14, 2014.
  9. ↑ "Hain Mini-Waffles 'Natural' Label Could Mislead, Judge Says". Beth Winegarner. Law360. September 17, 2014. Retrieved November 14, 2014.
  10. ↑ https://glaucusresearch.com/wp-content/uploads/downloads/2013/02/GlaucusResearch-The_Hain_Celestial_Group_Inc-NasdaqHAIN-Strong_Sell_Febuary_21_2013.pdf
  11. ↑ "Hain Celestial settles mislabeling lawsuit for nearly $10 million". Aisha Al-Muslim. Newsday.
  12. ↑ "$9.4M Settlement Reached in Hain Organic Consumer Fraud Class Action Lawsuit". BigClassAction.com.
  13. ↑ "Hain Celestial Inks $9.4M Deal To End Organic Labeling Suit". Kali Hays. Law 360.
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