French foods multinational Danone has made a USD 30 million investment in US organic coconut water brand Harmless Harvest.
The company’s venture arm, Danone Manifesto Ventures, led the investment round alongside Mousse Partners and other existing and new shareholders.
Harmless Harvest markets fresh organic coconut water, produced through a proprietary micro-filtration process. It has obtained the Fair for Life – social and Fair Trade – certification that recognizes the company’s sustainable business practices promoting social, agricultural and environmental progress.
Founded in 2010, Harmless Harvest is a leader in the fast-growing premium coconut water category in the US.
“Harmless Harvest is a unique US brand with a strong consumer base and a great growth potential in the attractive plant-based category. 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”, said Laurent Marcel, managing director of Danone Manifesto Ventures.
Harmless Harvest intends to use the investment to support its growth initiatives by increasing and optimizing sustainable production capacity, raising brand awareness and expanding distribution to meet growing consumer demand for refrigerated premium coconut water.