Hain Celestial makes Better Bean first acquisition through Cultivate Ventures unit

Hain Celestial makes Better Bean first acquisition through Cultivate Ventures unit

Hain Celestial has acquired The Better Bean Company, a US firm that makes a range of products with beans as their central ingredient.

The US-based group said its purchase of Better Bean was the first it made through its Cultivate Ventures unit.

Hain Celestial set up Cultivate Ventures in May last year in part, the company said at the time, to invest in "concepts, products and technology" that focus on health and wellness. No financial details of Hain Celestial's acquisition of Better Bean were disclosed.

"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," Beena Goldenberg, the CEO of Hain Celestial's Cultivate Ventures unit, said today (28 June). "Better Bean products are aligned with consumer demand for nutritious food, plant-based protein, fibre, clean labels and convenience."

Oregon-based Better Bean, set up in 2010, markets prepared beans and bean-based dips sold in chilled deli tubs. Its products are Non-GMO Project Verified, vegan and gluten-free. Better Bean, Hain Celestial added, is a Certified B Corporation.

"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 Better Beans," founder and CEO Keith Kullberg said.