Looking to tap into consumer dollars swirling around the perimeter of the grocery store, Hain Celestial has announced a new company that is being brought into its family. The company has acquired The Better Bean Company through its strategic platform Cultivate Ventures.
"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, fiber, clean labels and convenience," said Beena Goldenberg, Chief Executive Officer of Cultivate Ventures and Hain Celestial Canada.
According to a press release, Better Bean offers consumers “The First Innovation in Beans Since the Can!” by providing prepared beans and bean-based dips sold in chilled deli tubs. As we’ve previously reported, The Better Bean Company has been ramping up in the buy-side sector by offering summer solutions for consumers, that are healthy and tasting additions to spruce up their meals.
"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," said Keith Kullberg, Founder and Chief Executive Officer of Better Bean. "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."
Better Bean was founded in 2010 by father and daughter team Keith and Hannah Kullberg with the goal of making beans easy to eat, healthy, and tasty for consumers. Hain Celestial stated that this acquisition will further augment its offerings in the store perimeter.
The acquisition marks a first for the company’s strategic platform Cultivate Ventures. This arm of the company is dedicated to investing in smaller portfolio brands, lifestyle brands and concepts, and incubator opportunities in high growth categories.
Will Hain’s next acquisitions be specialty food focused? Deli Market News will report.