Hain acquires Rudi’s bakery for $61.3 million

BOULDER – Lake Success, N.Y.-based The Hain Celestial Group Inc., parent company of Celestial Seasonings tea company, announced on Monday that it has acquired Rudi’s Organic Bakery Inc. for $61.3 million in cash and common stock.

A Rudi’s spokesperson on Monday afternoon declined comment, referring questions to Hain Celestial. An official for Hain Celestial could not immediately be reached.

Boulder-based Rudi’s offers a variety of breads, tortillas, pizza crusts and other products under the Rudi’s Organic Bakery and Rudi’s Gluten-Free Bakery brands. The business was a portfolio company of New Jersey-based Charterhouse Equity Partners LLC.

The Hain Celestial press release noted that Rudi’s had about $60 million in 2013 net sales.

“At Hain Celestial we look for the latest trends, and consumers are increasing their purchases of whole grains, organic and gluten-free product offerings,” Hain Celestial founder, president and chief executive Irwin Simon said in the release. “As a company committed to driving product innovation, we plan to build upon Rudi’s leadership position and see the opportunity to take Rudi’s into other categories where the brand does not have products today.

“We have a proven ability to expand great brands and products into various channels of distribution, including the conventional, mass and club channels where we see significant opportunities for increased distribution.”

Rudi’s, based at 3300 Walnut St., had 180 employees as of January.

“I am thrilled for all of the employees of Rudi’s that we are joining the Hain Celestial family,” Rudi’s president and CEO Jane Miller said in the announcement. “They are a leader in organic and natural products, and this will be the perfect home for our brand, an industry icon since 1976.”


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