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Hain buys Tilda rice

Hain Celestial, the US organic food company that owns Irish brand Cully and Sully, said it will buy Tilda, which produces basmati rice, for about £217m (€260m).

Tilda generated €139m in sales last year and it's expected to boost Hain Celestial's adjusted earnings in the second half of 2014 by 6 cents to 10 cents per diluted share.