US-based food and personal care product manufacturer Hain Celestial has launched a corporate venturing subsidiary dubbed Cultivate Ventures.
Hain Celestial produces several dozen consumer products, ranging from cold-press juices to wheat and rye crackers and basmati rice to pasta dishes.
Cultivate Ventures will back health and wellness startups, make strategic investments in its own brands to help them relaunch, and incubate small acquisitions to scale them up to the same size as Hain’s existing brands.
The platform will involve several parts of the company, including marketing, sales and supply chain teams, collaborating with each other. It will be headed by Beena Goldenberg as chief executive, in addition to her current position as CEO of Hain Celestial Canada.
Goldenberg said: “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.”