Empire Poultry Completes Acquisition of Kosher Valley Brand

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 (“HPP”) in exchange for equity in Empire. Hain is a joint venture between Pegasus Capital Advisors, L.P. and The Hain Celestial Group, Inc.

Beginning Monday, Kosher Valley® will be produced in the Empire Kosher facility in Mifflintown, PA. 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.

“Kosher Valley will allow Empire to make strides in growing our company,” said Greg A. Rosenbaum, Chief Executive Officer of Empire Kosher Poultry. “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.

“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,” said Irwin D. Simon, President and Chief Executive Officer of Hain Celestial and a Director of HPP. “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.

{Noam Amdurski-Matzav.com Newscenter}