Harmless Harvest's use of coconuts complements Danone's push to increase its plant-based focus following its 2017 purchase of WhiteWave, adding brands such as So Delicious and Silk to its portfolio. In 2018, Danone's North America operations achieved B Corp certification, which is given to companies "using business as a force for good through their commitment to social and environmental performance, accountability and transparency." This is awarded to sustainable businesses that support social, agricultural and environmental improvement. Harmless Harvest also differentiates itself through its Fair for Life certification.
Its coconut-based products are organic, which is a priority for Danone as consumers keep a closer watch on eating healthy. Harmless Harvest has a lot of attributes that Danone itself has been adopting. Mondelēz International purchased Hu Master Holdings, a maker of premium snacks and chocolates made from simple ingredients, in January after taking a minority stake two years earlier. Companies like Danone have had time to get to know the management team, the company and the brands and now are comfortable taking a larger financial stake. Since then, it has invested in companies such as Laird Superfood, Forager Project and Nature's Fynd.īut the decision to take a bigger stake in Harmless Harvest is one of the few examples where an early venture capital investment has led to an acquisition or ownership of a majority stake. Danone was no exception, launching its Manifesto Ventures unit in 2016. Just a few years ago, it seemed every CPG food and beverage company was starting a venture capital unit to uncover new, up-and-coming brands and to enable them to quickly enter faster-growing, trendier categories.
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