The Hain Celestial Group Inc has acquired Plainville Turkey Farm Inc through its Hain Pure Protein Corp joint venture, of which the company controls 50.1% with the remaining minority interest of 49.9% owned by Pegasus Capital Advisors LP.
Based near Syracuse NY, Plainville has been growing and processing turkey since 1923 and is a leading supplier of natural and antibiotic-free whole turkeys and deli turkey products. It primarily serves the natural and grocery channels in the Northeast and Mid-Atlantic regions. Plainville generated approximately $30 million in sales in its last fiscal year. The company expects the transaction to be slightly accretive to earnings in fiscal year 2008.
