Hain Celestial Unveils Hain Reimagined Strategy; Announces Formal Restructuring Program

(RTTNews) - Hain Celestial Group (HAIN) announced Hain Reimagined strategy to accelerate profitable growth path. The company expects Hain Reimagined strategy to deliver an achievable and compelling multi-year financial algorithm through fiscal 2027 with attractive shareholder returns. The company's long-term outlook includes: organic net sales CAGR of 3% plus; adjusted EBITDA CAGR of 10% plus; and adjusted EBITDA margin of 12% plus by fiscal 2027.

In connection with the Hain Reimagined strategy, Hain Celestial announced a formal restructuring program. The restructuring is targeting $130 million to $150 million of annualized savings and a $165 million conversion of working capital cash by fiscal 2027. One-time restructuring and related costs are estimated to be in the range of $115 million to $125 million across fiscal 2024 and fiscal 2025.

Wendy Davidson, CEO, said, "Fiscal 2024 marks the foundational year of our plan, during which we will simplify the business, reset our global operating model, initiate our Fuel Program, invest to jumpstart critical capabilities, and begin our pivot to growth. By fiscal 2027, we expect to deliver sustained revenue and profit growth."

The company noted that its growth will be predominately driven by three key platforms - BFY Snacks, BFY Baby & Kids, and BFY Beverages.