The Hain Celestial Group, Inc., a natural and organic personal care products company, announced the expansion of the investment agreements between Hain Celestial and Yeo Hiap Seng (YHS) Limited and its subsidiary.
The company’s plan to exchange $6 million in equity investments in each other resulting in the issuance of 196,464 shares of Hain Celestial’s stock to YHS and the issuance of 4,044,800 ordinary shares of YHS (representing less than 1% of the outstanding shares) to Hain Celestial. Additionally, YHS has granted Hain Celestial an option to acquire up to 5% of its issued and outstanding shares, and Hain Celestial has granted to YHS an option to acquire a number of shares equal in value to the investment made by Hain Celestial. Each of the companies has the right of first refusal on the sale of its shares.
The companies have been exploring the expansion of distribution channels and geographical markets as well as cross-selling, spanning Asia including Singapore, Malaysia, Hong Kong and China and in the U.S., Canada and Europe. Additionally, the companies plan to provide investments in natural and organic personal care product companies in Asia.
The Hain Celestial Group, headquartered in Melville, N.Y., is a natural and organic personal care products company in North America and Europe. Hain Celestial participates in almost all natural personal care categories with well-known brands that include Linda McCartney, Jason, Zia, Natural Skincare, Avalon Organics, Alba Botanica and Queen Helene. More info: www.hain-celestial.com.