US food giant Hain Celestial has entered into a definitive agreement to purchase British soup maker Yorkshire Provender for an undisclosed sum.
Yorkshire Provender was founded in 2007 and now generates sales of £6m from its range premium fresh soups that are sold in supermarkets, on-the-go food outlets and food service providers in the UK.
The deal is subject to clearance from the Competition and Markets Authority (CMA).
“We welcome Belinda and Terry Williams, co-founders of Yorkshire Provender, to the Hain Celestial family and look forward to working with the Yorkshire Provender team in leading the next chapter of the brand’s development,” said Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial.
“Yorkshire Provender has a premium brand positioning that complements our New Covent Garden Soup Co. and Cully & Sully brands in the United Kingdom.”
James Skidmore, Chief Executive Officer of its UK subsidiary, the Hain Daniels Group, added: “We are excited to work together with the Yorkshire Provender team and leverage our combined infrastructures to drive future growth.”
Yorkshire Provender will continue to operate from its base in Ripon, North Yorkshire.
- Where at: At a crucial stage in its development Yorkshire Provender gains access to Hain Daniels buying muscle and coverage, in good company including Tilda, Linda McCartney, Sun-Pat, New Covent Garden Soup Co and Ella’s Kitchen.
- Where headed: Expect expansion to US, India and continental EU for Yorkshire Provender soup.
- Effect on you: A change in the competitive landscape…
- Action: Competitors in the category need to reassess relative competitive appeal.