FRANCE – Danone Manifesto Ventures, the venture unit of Danone, has announced its acquisition of a minority stake in the Hawaii-based company Kona Deep.
According to the company, Kona Deep intended to use the investment to support growth initiatives by expanding distribution, increasing and optimizing production capacity and raising awareness for the Kona Deep ocean water.
Its management team, led by CEO Patrick Turpin, will leverage Danone Manifesto Ventures’ resources and expertise, to capitalize on the opportunities ahead.
The company has also created a new category of premium water with its unique deep ocean water, sourced 3,000 feet below ocean surface in Kona, Hawaii, from a pure source containing natural minerals.
Kona Deep shares Danone’s sustainable business agenda and vision of bringing consumers great tasting water with compelling hydration benefits.
Kona Deep has recently expanded onto the U.S. mainland where the demand for premium waters and performance waters is growing rapidly, following its launch in Hawaii in late 2015.
Hawaiian deep ocean water offers consumers both the purity of a trusted natural source and the benefits of naturally occurring deep ocean electrolytes.
Danone Manifesto Ventures, created in 2016 to invest in early stage, disruptive food and beverage, and food technology companies, participated in Kona Deep’s US$5.5 million financing round alongside Grand Crossing Capital and local Hawaiian investors.
It partners with companies that share its vision of a healthy and sustainable future of food and leverages its experience to support its partners’ growth as a collaborative investor.