Danone’s corporate venture arm acquires majority stake in Harmless Harvest

Danone Manifesto Ventures, the corporate venture arm of Danone, has acquired a majority stake in Harmless Harvest.

In 2017, Danone led a $30 million capital growth round in the organic coconut-based product brand, alongside Mousse Partners and other investors.

Founded in 2009 by Justin Guilbert and Douglas Riboud, Harmless Harvest will operate under the umbrella of Danone Manifesto Ventures with Ben Mand as CEO.

“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,” Laurent Marcel, CEO of Danone Manifesto Ventures, said. “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. We look forward to continuing our partnership with Ben and his talented leadership team, and supporting their inspiring ambitions.”

With this additional investment, the New York-based company will acquire majority ownership of Harmless Harvest and continue to provide financial, strategic and operational support for all business areas while the brand continues to operate independently, the company said.

“This is an exciting next step for Harmless Harvest — a testament to the entire team’s hard work and commitment to our mission in the U.S. and Thailand. It opens the door to an amplified and expanded collaboration between two like-minded groups of people willing to promote and deliver on the principles of constructive capitalism that define the company,” said Harmless Harvest co-founders and chairpersons Justin Guilbert and Douglas Riboud. “DMV has played a critical role in Harmless Harvest’s success since 2017, not simply from a capital perspective, but most importantly in an outstanding operational and strategic capacity. We are thrilled to continue in our founder and board member roles to support this partnership and remain very confident in the future potential for Harmless Harvest.”