US-based Hain Celestial has announced plans to simplify its food and drinks business range as it looks to drive future growth.
The changes will affect its meal prep, snacks, children’s food and beverages lines.
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In meal prep, the business is looking to streamline the Linda McCartney plant-based meats range, with the goal of pushing the frozen side of the portfolio which is sold in Europe and the UK.
The Terra vegetable crisps maker intends to make changes to its baby/children’s food and drinks range as well, “as part of ongoing brand maintenance”.
The consolidation process has already its sale of cookies group Thinsters, which Hain Celestial handed off to local peer J&J Snack Foods in April for an unknown sum.
Last month, the Natumi milk alternatives owner also shut down production and operations with its joint venture with local FMCG group Future Consumer in India. Set up in 2017, the venture was intended to expand Hain Celestial brands further into the Indian market.
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By GlobalDataThe planned consolidation come as Hain Celestial looks to find ways to drive growth under its Hain Reimagined strategy, launched in September 2023.
Under the plan, the group aims to build its five core product categories – snacks, meat and dairy alternatives, tea, foods and personal care, across five key markets: the US, Canada, UK, Ireland and Western Europe.
Hain Celestial said these business changes are helping it save money, and increase cash flow to pay off debts and boost gross margins.
With the strategy still in its early phases, the Yorkshire Provender soups manufacturer said it was “continuing to identify opportunities to further simplify and streamline the business”.
More details are expected to be revealed on further consolidation plans in the company’s third-quarter earnings call next week.
Hain Celestial president and CEO Wendy Davidson said: “This critical work delivers on the commitments we outlined in the Focus pillar of our Hain Reimagined strategy to design a winning portfolio of brands across five categories, and to materially simplify our footprint and leverage scale and synergies across our five core geographies.
“These actions strengthen our focus on driving a core, hard-working portfolio of brands that produce stronger velocities and remove operational complexity from our supply chain to drive margin expansion.”
