Builds on Prior Investment and Strengthens Partnership
Danone Manifesto Ventures (DMV) has announced that it has acquired a majority stake in Harmless Harvest, a leader in organic coconut-based products including coconut water and dairy-free coconut yogurt alternatives, as DMV furthers its investment position and partnership efforts. DMV is the corporate venture arm of Danone, the global leader of fresh dairy and plant-based foods and beverages.
In 2017, Danone Manifesto Ventures led a $30 million capital growth round in the company, alongside Mousse Partners and other investors. With this additional investment, DMV acquires majority ownership and will continue to provide financial, strategic, and operational support in all appropriate business areas while Harmless Harvest continues to operate independently.
This transaction will provide Harmless Harvest with additional resources and operational capabilities to help further propel its growth and sustainability initiatives, from Thai coconut farms to U.S. shelves.
Harmless Harvest was founded in 2009 by Justin Guilbert and Douglas Riboud and is the leader in the fast-growing premium coconut water category in the U.S. as a result of its focus on crafting superior, organic products.