Beena Goldenberg to head Hain Celestial’s new venturing unit, Cultivate Ventures
Hain Celestial has tapped Beena Goldenberg, CEO of its Canadian operation, to become CEO of Cultivate Ventures, its new venturing arm.
The latest big CPG company to launch a venturing arm designed to acquire, invest in, and nurture small brands, Hain said Cultivate will be managed under its ‘Rest of World’ segment along with Hain Celestial Canada and Hain Celestial Europe.
Cultivate Ventures has three aims:
- To invest in the company's smaller brands in high potential categories such as SunSpire chocolates and DeBoles pasta by “giving them a dedicated, creative focus for refresh and relaunch.”
- To incubate small acquisitions until they reach the scale for Hain’s core platforms.
- To invest in health and wellness concepts, products and technology.
Brands that form part of the unit generated revenues of c.$70m in fiscal 2016, and include:
- BluePrint cold-pressed juices and functional beverages.
- DeBoles pastas.
- GG Unique Fiber crackers.
- SunSpire confectionery line.
- Tilda basmati rice.
- Yves Veggie Cuisine meat-free products.
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."