Hain Celestial's Ventures Unit Makes First Buy
Hain Celestial Group has purchased Better Bean Co., a Portland, Oregon-based business founded in 2010 by the father/daughter team of Keith and Hannah Kullberg. The acquisition will increase Hain Celestial's offerings in the much-coveted store perimeter.
Better Bean is the first acquisition made by the Hain Celestial Cultivate Ventures strategic platform, which is dedicated to investing in smaller portfolio brands, lifestyle brands and concepts, and incubator opportunities in high-growth categories.
Better Bean manufactures prepared beans and bean-based dips sold in chilled deli tubs. The company's eight plant-based varieties contain at least five grams of fiber and six grams of protein per serving. They are also non-GMO project verified, certified vegan and gluten-free. As a Certified B Corporation, Better Bean's mission and values align with those of Hain Celestial.
"Better Bean is well-suited for the Cultivate Ventures portfolio given our focus on the perimeter of the store with our BluePrint functional beverages, Yves Veggie Cuisine vegetarian offerings, and Health Valley refrigerated soup products," said Beena Goldenberg, chief executive officer of Cultivate Ventures and Hain Celestial Canada. "Better Bean products are aligned with consumer demand for nutritious food, plant-based protein, fiber, clean labels and convenience."
"We expect to catapult Better Bean's growth by leveraging Hain Celestial's strength in sales, distribution, marketing and brand building, which should allow more consumers to experience [our products]," said Keith Kullberg, who also serves as the company's CEO. "Hain Celestial's decades-long commitment to making healthier, better-for-you food more accessible complements Better Beans' mission to bring the world clean, tasty and convenient beans."