Danone Invests $30 Million In Premium Coconut Water
Danone has said that its capital investment unit, Danone Manifesto Ventures, has made a $30 million investment in premium coconut water company Harmless Harvest.
Danone announced that it acquired a stake in the US-based company, alongside Mousse Partners, and other existing and new shareholders.
Harmless Harvest, which produces refrigerated, organic coconut water, intends to use the investment to increase production capacity, raise brand awareness, and expand distribution.
Danone added that the investment has been made in response to growing consumer demand for natural and healthy beverages.
“Harmless Harvest is a unique US brand with a strong consumer base and a great growth potential in the attractive plant-based category," said Laurent Marcel, managing director of Danone Manifesto Ventures.
"Harmless Harvest and Danone have highly aligned values combining business growth ambitions with a commitment to healthier nutrition and sustainable business practices. We look forward to leveraging our expertise and resources to help Harmless Harvest reach its full potential, while maintaining the unique DNA that has enabled its success.”
This investment is part of Danone Manifesto Ventures' work to expand the company into emerging food-trend categories.
The unit was launched at the end of 2016, and last year invested in five different businesses, including Kona Deep, a Hawaii-based firm that specialises in ‘deep ocean water’, and frozen organic baby food start-up company, Yooji.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.