The Hain Celestial Group, Inc., Lake Success, N.Y., launched its Cultivate Ventures platform, dedicated to investing behind lifestyle brands, smaller portfolio brands and concepts as well as incubator opportunities.
The company plans to strategically invest with a dedicated, creative focus for refresh and relaunch; incubate small acquisitions until they reach the scale for the company's core platforms; and invest in lifestyle brands, concepts, products and technology that focus on health and wellness. Cultivate's brands include BluePrint, a pioneer of cold-pressed juices, juice drinks and functional beverages and Yves Veggie Cuisine, a full line of meat-free products, among other brands.
Cultivate will utilize several teams, including marketing, sales and supply chain, to reinvigorate its brands.
Beena Goldenberg was appointed chief executive officer, adding to her current role of chief executive officer of Hain Celestial Canada, tasked with overseeing Cultivate's mission to grow strategic investments and act as an incubator of small acquisitions.
"Since Hain Celestial's inception, we have invested in health and wellness brands and concepts, giving them the infrastructure to grow. We formed Cultivate Ventures to bring that legacy to our high potential brands, investing in teams with support and focus to help them thrive," says Irwin Simon, founder, president and CEO.
"Cultivate Ventures will renew our company's entrepreneurial spirit and reaffirm Hain Celestial's position as the leader to create and inspire consumers with 'A Healthier Way of Life,'" says Goldenberg. "Cultivate will rely on key learnings from Hain Celestial's history of growing acquisitions by offering smaller brands access to our unique sourcing opportunities, manufacturing facilities and best practices in marketing and distribution in the natural and organic industry."
Cultivate will be managed under the Rest of World segment along with Hain Celestial Canada and Hain Celestial Europe.