HumanCo, a US investment firm, has taken a majority stake in plant-based ice-cream business Coconut Bliss for an undisclosed sum.
Family-owned Coconut Bliss, which was founded in 2005 in Oregon, manufactures ice-cream tubs and sticks, ice-cream bars and cookie sandwiches, all organically produced and free-from gluten. The non-GMO products are supplied to the retail and foodservice channels.
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HumanCo was founded by ex-hedge fund manager Jason Karp and invests in health brands and businesses committed to environmental sustainability. Karp is also a co-founder of Hu Master Holdings, which manufactures vegan and paleo-friendly chocolate snacks free of refined sugar, soy, dairy and gluten, and in which snacking giant Mondelez International acquired a stake last year. He is chairman of Hu Master Holdings after Mark Ramadan, the co-founder of US condiments maker Sir Kensington’s, was named CEO last year.
Karp, who is CEO of HumanCo, said the aim is to transform Coconut Bliss into a “globally recognised brand”.
He added in a statement: “We love ice cream, but most of the plant-based options don’t taste like delicious ice cream or are filled with weird, questionable ingredients. Coconut Bliss does things the right way – they make the most delicious, environmentally conscious, plant-based ice cream that meets both the HumanCo ingredient and taste standards.”
HumanCo will also help fuel new product innovation for Coconut Bliss and increase distribution and marketing.
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By GlobalDataKim Gibson Clark, the CEO of Coconut Bliss, said: “Coconut Bliss has always been dedicated to real ingredients, minimal processing, organic farming practices, fair trade, and socially-just labour practices with all of our products and suppliers. HumanCo strengthens these commitments by providing shared resources to help our company operate on a larger scale.”
just-food has contacted HumanCo for further information on its investment strategy and ambitions.
