Danone Leads $30M Investment in Plant-Based Brand

The dairy conglomerate continues to expand its portfolio, this time with coconut water brand Harmless Harvest, with the aim of capitalizing on the boom of the plant-based industry.

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Coconut water brand Harmless Harvest secured a $30 million investment last week led by Danone Manifesto Ventures (DMV)—the investment arm of food brand Danone. Managing Director of DMV Laurent Marcel expressed that the investment is an opportunity to capitalize on the booming plant-based sector. “Harmless Harvest is a unique U.S. brand with a strong consumer base and a great growth potential in the attractive plant-based category,” Marcel said. “Harmless Harvest and Danone have highly aligned values combining business growth ambitions with a commitment to healthier nutrition and sustainable business practices.” Last year, Danone completed a $12.5 billion acquisition of WhiteWave Foods (parent company of plant-based brands Vega, Silk, So Delicious, and Alpro) to become “DanonWave” and committed $60 million to expand Silk’s Virginia plant-based milk production facility.