USA-based The Hain Celestial Group has signed a letter of intent to transfer its sandwich business Daily Bread to a strategic buyer.
Daily Bread, a brand under the UK arm of the Group – Hain Daniels – was established in 1986, and carries a Royal Warrant.
It supplies sandwiches to corporate organisations, museums, sporting and educational establishments.
The firm said it had previously discussed the evaluation of its sandwich operations, including the Daily Bread brand, with sales attributable to the brand no longer included in the company’s reported consolidated net sales.
It added that Daily Bread was no longer a core business within Hain Daniels. The transaction is expected to close in September 2012, though the terms were not disclosed.
In related news, Greencore announced today it had acquired International Cuisine, a private-label chilled ready-meal business, from the Hain Daniels Group in the UK, while Hain Daniels has announced the acquisition of Premier Foods’ sweet spreads and jellies business, including the Hartley’s, Robertson’s, Frank Cooper, Keiller, Gales and Sun-Pat brands.
Hain Daniels Group, wholly owned by Hain Celestial, was established in October 2011, following the acquisition of The Daniels Group. Its brands include New Covent Garden Soup Co, Johnson’s Juice Co, Linda McCartney, Farmhouse Fare and Lovetub.