LAKE SUCCESS, N.Y.,
Feb. 27, 2017 /PRNewswire/
-- The Hain Celestial Group, Inc. (Nasdaq: HAIN), a leading
organic and natural products company with operations in
North America, Europe and India providing consumers with A Healthier Way
of Life™, today announced it has received a waiver and extension of
certain obligations under its unsecured credit facility from its
lenders until May 30, 2017. This
relates to the delivery of certain financial information under the
credit facility including the Company's audited financial
statements for its fiscal year 2016 as well as the financial
statements for the first and second quarters of fiscal year 2017.
This will allow the Company to be compliant with its
reporting obligations while it works to complete the filing of its
Annual Report on Form 10-K for its fiscal year ended June 30, 2016 as well as its Quarterly Reports on
Form 10-Q for the periods ended September
30, 2016 and December 31,
2016.
"We are pleased to continue to receive the support of our bank
group led by Bank of America Merrill Lynch and Wells Fargo in
securing this waiver and extension as we move toward a conclusion
in our reporting process," commented Irwin
D. Simon, Founder, President and Chief Executive Officer of
Hain Celestial. "We appreciate the continued confidence of
the bank group in the Company, as we have a solid financial
platform with operating flexibility including working and
acquisition capital to support our strategic growth
initiatives."
As of December 31, 2016 there was
$790 million in borrowings under the
credit facility, and the Company had $157
million in cash from its worldwide operations.
The Hain Celestial Group, Inc.
The Hain Celestial Group (Nasdaq: HAIN), headquartered in
Lake Success, NY, is a leading
organic and natural products company with operations in
North America, Europe and India. Hain Celestial
participates in many natural categories with well-known brands that
include Celestial Seasonings®, Earth's Best®, Ella's Kitchen®,
Terra®, Garden of Eatin'®, Sensible Portions®, Health Valley®,
Arrowhead Mills®, MaraNatha®, SunSpire®, DeBoles®, Casbah®, Rudi's
Organic Bakery®, Hain Pure Foods®, Spectrum®, Spectrum Essentials®,
Imagine®, Almond Dream®, Rice Dream®, Soy Dream®, WestSoy®, The
Greek Gods®, BluePrint®, FreeBird®, Plainville Farms®, Empire®,
Kosher Valley®, Yves Veggie Cuisine®, Europe's Best®, Cully & Sully®, New Covent
Garden Soup Co.®, Johnson's Juice Co.®, Farmhouse Fare®,
Hartley's®, Sun-Pat®, Gale's®, Robertson's®, Frank Cooper's®, Linda McCartney®, Lima®,
Danival®, Happy®, Joya®, Natumi®, GG UniqueFiber®, Tilda®, JASON®,
Avalon Organics®, Alba Botanica®, Live Clean® and Queen
Helene®. Hain Celestial has been providing A Healthier Way of
Life™ since 1993. For more information, visit
www.hain.com.
Safe Harbor Statement
Certain statements contained in this press release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are predictions based on expectations and projections
about future events, and are not statements of historical fact. You
can identify forward-looking statements by the use of
forward-looking terminology such as "plan", "continue", "expect",
"anticipate", "intend", "predict", "project", "estimate", "likely",
"believe", "might", "seek", "may", "remain", "potential", "can",
"should", "could", "future" and similar expressions, or the
negative of those expressions. These forward-looking statements
include the Company's beliefs or expectations relating to the
filing of the Annual Report on Form 10-K for the fiscal year ended
June 30, 2016, the Quarterly Report
on Form 10-Q for the period ended September
30, 2016, the Quarterly Report on Form 10-Q for the period
ended December 31, 2016 and the
Quarterly Report on Form 10-Q for the period ended March 31, 2017, if necessary. Such
forward-looking statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual results
to be materially different from any future results expressed or
implied by such forward-looking statements. Such factors include a
material delay in the Company's financial reporting, the
possibility that one or more material weaknesses in the Company's
internal control over financial reporting may be identified, the
possibility that errors may be identified, which may be material,
whether investors should no longer rely upon previously issued
financial statements, and the risk that the Company may need to
restate its financial statements. As a result of the foregoing and
other factors, no assurance can be given as to the future results,
levels of activity and achievements of the Company, and neither the
Company nor any person assumes responsibility for the accuracy and
completeness of these statements.
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SOURCE The Hain Celestial Group, Inc.