Hain Celestial announces strategic actions

Hain Celestial Group announced strategic actions the company is taking to progress the Focus pillar of its Hain Reimagined business strategy. Key initiatives include category-wide SKU reductions, consolidation of its operating footprint, and streamlining its co-manufacturing network, globally. The steps Hain has taken are unlocking annualized savings, generating operating cash flow to pay down debt and driving gross margin expansion. Hain Celestial Takes Strategic Actions to Simplify Portfolio & Operating Footprint to Strengthen Balance Sheet. Hain is designing a winning portfolio by actively assessing and streamlining its brand portfolios. Since July 2023, the company has removed 6% of its SKUs globally and is expected to increase that number over the next two years. Today, those reductions are split almost equally between North America and International and include brands across the Snacks, Baby/Kids, Beverages, Meal Prep and Personal Care categories. Hain is also streamlining its operating footprint and leveraging synergies across the business to drive scale as the company focuses in five core geographies: the U.S., Canada, UK, Ireland and Western Europe. As Hain is in the foundational year of its Hain Reimagined strategy, the company is continuing to identify opportunities to further simplify and streamline the business through optimizing its operating model, leveraging synergies and scale and continuing to focus on shaping a winning portfolio.Hain will share more details during the Q3.