Hain Celestial unveils strategy to transform company

Hain Celestial unveils its Hain Reimagined strategy to accelerate the Company’s profitable growth path at its 2023 Investor Day event in New York. Hain Reimagined is grounded in executing on four strategic pillars to drive shareholder return: Focus – “We will focus and materially simplify our footprint, maintaining direct presence in 5 key markets – United States, Canada, UK, Ireland, and Europe – and will align our global operating model and footprint, leveraging scale and realizing synergies between our businesses,” the company said. Grow – “Our growth plan is designed to deliver share gain in key platforms through expanded channel reach and acceleration in our innovation pipeline,” the company said. Build – “We will elevate our approach to brand building and improve the effectiveness of our marketing spend; expand reach across under-penetrated margin-accretive channels such as away from home and omni-channel e-commerce; and enhance our innovation capability to be more leading edge in BFY.” Fuel – “we expect our Fuel Program to achieve ~400-500 basis points of adjusted gross margin improvement and contribute to the delivery of $400 million in cumulative free cash flow by FY27,” the company said. RESTRUCTURING PROGRAM: In connection with the Hain Reimagined strategy, the Company announced a formal restructuring program intended to expand operating margins through the optimization of the Company’s brand portfolio, organization, end-to-end supply chain, and working capital. The restructuring program is targeting $130 million to $150 million of annualized savings and a $165 million conversion of working capital cash by FY27.