LAKE SUCCESS, N.Y. — The Hain Celestial Group, Inc.’s strategic platform Cultivate Ventures has acquired The Better Bean Co., manufacturer of prepared beans and bean-based dips served in chilled deli tubs. Better Bean will augment Hain Celestial’s offerings in the perimeter of the store, the company said. Financial terms of the transaction were not disclosed.
|Beena Goldenberg, c.e.o. of Cultivate Ventures and Hain Celestial Canada|
“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,” said Beena Goldenberg, chief executive officer of Cultivate Ventures and Hain Celestial Canada. “Better Bean products are aligned with consumer demand for nutritious food, plant-based protein, fiber, clean labels and convenience.”
Founded in 2010 in Portland, Ore., Better Bean offers plant-based bean varieties that are Non GMO Project verified, certified vegan and gluten-free. The contain at least 5 grams of fiber and 6 grams of protein per serving and are available in eight varieties: Southwestern Pinto Beans, Uncanny Refried Beans, Tuscan White Beans, Cuban Black Beans, Roasted Chipotle Red Beans, Skillet Refried Red Beans, Better Baked Beans and Three Sisters Chili.
|Keith Kullberg, founder and c.e.o. of The Better Bean Co.|
“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.”The purchase of Better Bean marks the first acquisition for Hain Celestial’s Cultivate Ventures platform, which the company launched in November. Cultivate Ventures is dedicated to investing in lifestyle brands, smaller portfolio brands and concepts.