SAN FRANCISCO--(BUSINESS WIRE)--Harmless Harvest—a leader in U.S. Refrigerated Premium Coconut Water and a Fair for Life Certified Organic Producer— today announced that it has secured $30 million in growth capital to support the growth plans of its healthy, nutrient-rich, organic products while operating in a sustainable manner with best-in-class social, environmental and quality standards.
The investment was led by Danone Manifesto Ventures, the venture arm of Danone, and includes Mousse Partners, as well as other existing and new shareholders, including AccelFoods. Harmless Harvest intends to use the investment to support its growth initiatives by increasing and optimizing sustainable production capacity in Thailand, raising brand awareness and expanding geographic distribution to meet growing consumer demand for refrigerated premium coconut water.
“Harmless Harvest was developed to force the conventional food industry toward a new set of standards that includes all stakeholders, from soil to stomach, with a demonstrable benefit for all,” said Harmless Harvest Co-Founder Justin Guilbert. “We are excited to reach this milestone and partner with Danone Ventures, Mousse Partners and AccelFoods as we enhance our ability to offer the world more nutritious, organic and delicious food.”
“Danone Manifesto Ventures, Mousse Partners and AccelFoods are the right partners to help us deliver on our vision of providing the world with better, healthier nutrition while advancing our sustainability and environmental agenda,” said Harmless Harvest co-founder Douglas Riboud. “This partnership will provide tremendous growth opportunities for Harmless Harvest, our talented team, our dedicated farmer community and all our stakeholders.”
Laurent Marcel, Managing Director of Danone Manifesto Ventures, commented, “We are enthusiastic about this investment in Harmless Harvest, a unique brand with a strong consumer base and 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.”
About Harmless Harvest
Founded by Justin Guilbert and Douglas Riboud in 2010, Harmless Harvest delivered the first-ever minimally processed organic coconut water while becoming Fair for Life certified—meaning that it meets rigorous and independent standards for environmental sustainability and provides fair wages, healthcare, and well-being assurance for every farmer and employee both abroad and in the U.S. Harmless Harvest’s unique ecosystem-based business model also includes investing in the rural Thai communities where their coconuts are grown. From seed to shelf, the team at Harmless Harvest is committed to sharing the welfare they create and touching more lives with delicious, organic foods that are produced and traded with fair and sustainable business practices that promote social, agricultural, and environmental progress.
About Danone Manifesto Ventures
Launched at the end of 2016, Danone Manifesto Ventures is the venture arm of Danone, bringing the Danone Manifesto to life by partnering with a tribe of disruptive entrepreneurs and innovative food and beverages companies that share its vision of a healthy and sustainable future. Through this unit, Danone makes investments and provides financial and operational support to its portfolio companies through access to its experienced teams around the world, while preserving the autonomy required to grow their entrepreneurial project. To this day, Danone Manifesto Ventures has completed five direct investments including Michel et Augustin and Yooji in France, along with Farmers Fridge, Kona Deep and Harmless Harvest in the United States. Danone Manifesto Ventures has also established two partnerships with AccelFoods and Cassius Family.
About Mousse Partners
Mousse Partners Limited is a private institutional investor based in New York with offices in Beijing and Hong Kong. Mousse Partners pursues investments in alternative assets, especially private equity and hedge funds, as well as direct investments in various companies primarily in specialty retailing, publishing, and e-commerce businesses located in the U.S., Europe and China.