Danone's venture capital unit has invested in an organic coconut water producer in the US.
Harmless Harvest is based in San Francisco
The company said yesterday that Danone Manifesto Ventures led a US$30m investment round in Harmless Harvest. The coconut water brand will use the money to support growth initiatives, including increasing production and raising brand awareness.
Harmless Harvest was founded in 2010. The brand carries Fair for Life certification - a social and fair trade initiative that recognises sustainable business practices.
Danone was joined in the investment by several companies.
"While including Mousse Partners as well as other existing and new shareholders like AccelFoods, the investment round was led by Danone's venture arm," the company said.
Danone Manifesto Ventures is the corporate venture unit of Danone and was created in September 2016 to invest in "early stage, disruptive food and beverage, and food technology companies".
Danone said the investment would allow the company to build on an existing stake in Harmless Harvest, without giving further details.
The move follows an investment last November in Hawaii-based water brand Kona Deep.
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Sectors: Mergers & acquisitions, Soft drinks, Water
Companies: Groupe Danone
