Hain Celestial acquires Better Bean Company in US
US-based food firm Hain Celestial Group has acquired Better Bean Company, a chilled prepared beans seller in Oregon.
Financial details of the acquisition, which is the first through Hain Celestial’s Cultivate Ventures platform, have not been disclosed.
The platform has been created by the company to invest in smaller portfolio brands and incubator opportunities in high-growth categories.
The acquisition is reported to be in line with Hain Celestial's growth strategy and will expand its store perimeter product offerings.
Cultivate Ventures and Hain Celestial Canada chief executive officer Beena Goldenberg said: "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.
“Better Bean products are aligned with consumer demand for nutritious food, plant-based protein, fibre, clean labels and convenience."
The company was established in 2010 with an objective to make eating beans easy, tasty and healthy.
Better Bean products are claimed to be non-GMO project verified, certified vegan and gluten-free, with only 5g of fibre and 6g of protein a serving.
Hain Celestials is an organic and natural products company with operations in North America, Europe and India.