“We are thrilled to further the partnership with a group of people who aim to be harmless to the planet and society and share our vision of a healthy and sustainable food system. “It has been a privilege to be part of the Harmless Harvest success story over the past few years, as the company has continued to grow, innovate, and pioneer more responsible business practices,” said Laurent Marcel, CEO of Danone Manifesto Ventures. Harmless Harvest is Fair for Life Certified and committed to sustainable agriculture through its Regenerative Coconuts Agriculture Project (ReCAP), launched in 2019 in partnership with Danone.
The company expects to generate over $100 million in sales in 2021, doubling its revenue from 2017. Under the leadership of Ben Mand, who joined the company in 2018 as CEO, Harmless Harvest’s growth has continuously accelerated, driven by distribution expansion and innovation, notably with the launch of dairy-free yogurt alternatives in 20.
as a result of its focus on crafting superior, organic products. 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. It contributes to Danone’s goal to increase its plant-based sales worldwide to €5 billion by 2025. DMV’s majority stake in Harmless Harvest supports Danone’s global efforts to accelerate the growth of its plant-based business and offer more plant-based options to consumers throughout their day. It will operate under the umbrella of DMV, with a level of autonomy that preserves its entrepreneurial culture. investment to become majority-owned by DMV. 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. 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. In 2017, Danone Manifesto Ventures led a $30 million capital growth round in the company, alongside Mousse Partners and other investors. DMV is the corporate venture arm of Danone, the global leader of fresh dairy and plant-based foods and beverages. NEW YORK-( BUSINESS WIRE)-Danone Manifesto Ventures (DMV) today 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.
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