PARIS — Danone Manifesto Ventures, the corporate venture arm of Paris-based Danone, has acquired a minority stake in Minor Figures. Financial terms were not disclosed.
Founded in 2015, Minor Figures is a maker of oat milk and ready-to-drink tea and coffee. The company has offices in the United Kingdom, United States, and Australia, and sells its plant-based beverages in 16 countries.
Launched in 2016, Danone Manifesto Ventures makes financial investments and provides strategic and operational support to its portfolio companies while preserving the autonomy required to grow their entrepreneurial projects. Danone Manifesto Ventures has invested in various companies, including Harmless Harvest, Forager Project, Farmer's Fridge and Nature's Fynd in the United States; Michel et Augustin, Yooji and Phenix in France; Moju in the United Kingdom; and Epigamia in India. In 2018, it became the first corporate venture unit to be independently certified as a B Corp.
“We believe Minor Figures is a unique brand that strongly resonates with consumers in the fast-growing plant-based space,” said Clemence Delcourt, chief investment officer of Danone Manifesto Ventures. “Minor Figures is fully aligned with our goal to partner with mission-driven food and beverage companies that are creating a healthy and sustainable future. Stuart (Forsyth, co-founder and chief executive officer of Minor Figures) and the whole Minor Figures team have done a tremendous job producing high quality, innovative products for customers and consumers around the world, and we look forward to working with them to help accelerate their growth and impact.”In addition to Minor Figures, other brands in Danone’s portfolio that offer oat milk include Silk and So Delicious.