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Empire Kosher Poultry Acquires Kosher Valley Brand

by 5m Editor
17 May 2010, at 9:54am

US - Empire Kosher Poultry, Inc. has completed the acquisition of the Kosher Valley brand in exchange for shares issued to Hain Pure Protein Corporation.

Empire Kosher Poultry, Inc., one of the country's most established processors of kosher chicken and turkey has announced that it has completed the acquisition of the Kosher Valley brand of kosher, antibiotic-free (ABF) poultry from Hain Pure Protein Corporation in exchange for equity in Empire. Hain is a joint venture between Pegasus Capital Advisors, L.P. and The Hain Celestial Group, Inc.

From today (17 May), Kosher Valley will be produced in the Empire Kosher facility in Mifflintown, Pennsylvania. Less than a year ago, Empire announced the installation of a high-speed processing line that gives the company the capacity to produce over 500,000 birds per week during non-peak periods and 800,000 at peak production times. The addition of Kosher Valley's volume is expected to provide operating efficiencies at the Pennsylvania plant.

Greg A. Rosenbaum, Chief Executive Officer of Empire Kosher Poultry, said: "Kosher Valley will allow Empire to make strides in growing our company. We're impressed with the work that Kosher Valley has done in developing their kosher ABF product line and in building its distribution. The combined volume will improve operating efficiencies, and allow us to offer a much wider choice of products to consumers."

Under the terms of the agreement, Irwin Simon of The Hain Celestial Group and Rodney Cohen of Pegasus Capital Advisors will be joining Empire's Board of Directors.

Irwin D. Simon, President and Chief Executive Officer of Hain Celestial and a Director of HPP, commented: "We are pleased that Kosher Valley has been acquired by Empire, a premier brand in kosher poultry, which will expand the breadth of its product lines and distribution reach. "It's great for HPP to join forces with Empire, as Kosher Valley will benefit from Empire's production capabilities and reputation for delivering high-quality products to a broad market."

Jefferies & Company, Inc. served as financial advisor to both Hain Pure Protein Corporation and Empire Kosher Poultry, Inc. for this transaction.

Empire Kosher is one of the most established kosher poultry processors in the United States. It markets and sells its award-winning brands throughout the nation at retail channels including chain supermarkets, big box stores, warehouse clubs and independent kosher grocers.