Natural food company Hain Celestial has agreed to jointly develop new foods and beverages with the health and food technologies unit of US agribusiness Cargill.

Hain said the joint venture would expand its functional foods and beverages categories. The two companies plan to develop new products using Cargill's isoflavones, inulin and chondroitin products.

Isoflavones are plant-derived and are thought to help fight osteoporosis, inulin is a natural vegetable fibre sweetener, and chondroitin is a molecule found in cow cartilage that it used to relieve arthritis, reported Dow Jones News Service.