Word from the street (some call it gossip) is that Spectrum Organics is still in negotiations over final details of the company’s sale to the Hain Food Group. While no one suggested that the announced purchase by Hain is on the rocks, some folks wonder if the independent minded (some call it stubborn) Phillips is unwilling to give the hard driving (some call it shortsighted) Hain’s Irwin Simon and crew all that they want.
It’s unlikely price is the issue. After all Hain is renowned for paying top dollar (some call it overpaying) for most of its acquisitions. The corporate arm wrestling in the deal room likely has to do with the transition and NBN thinks that Hain’s likely move to close Spectrum’s operations and consolidate Spectrum, as part of Hain’s Southern California operations might be the issue.
One other note (some call it a tidbit) is that Spectrum’s headquarters, located in Petaluma, California, just 45 minutes north of San Francisco, is a pricey and fast appreciating piece of real estate that would sell for a lot of dough (some call it money).