Danone has said that its Danone Manifesto Ventures investment vehicle has taken a minority stake in Kona Deep, a Hawaii-based firm that specialises in ‘deep ocean water’, sourced 3,000 feet below the ocean’s surface.
Danone said that the investment is in keeping with the business’ One Planet. One Health strategic vision, with Kona Deep sharing Danone’s sustainable business agenda and vision.
The company said that deep ocean water ‘offers consumers both the purity of a trusted natural source and the benefits of naturally occurring deep ocean electrolytes’.
Financing Round
Danone Manifesto Ventures participated in Kona Deep’s $5.5 million financing round alongside Grand Crossing Capital and local Hawaiian investors.
Kona Deep said that it intends to use the investment ‘to support growth initiatives by expanding distribution, increasing and optimising production capacity and raising awareness about the brand’.
Kona Deep’s management team, led by CEO Patrick Turpin, will leverage Danone Manifesto Ventures’ resources and expertise, to capitalise on the opportunities open to the business, the company said.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
