Posted on October 17, 2019 by Sustainable Food News

Horizon Organic milk parent co. invests in organic dairy-free F&B co.

Danone's venture capital arm boosts prospects for organic cashew-based yogurt maker

Danone, owner of the Horizon organic milk brand, said Thursday its venture capital arm has acquired a minority stake in Forager Project LLC, a manufacturer of certified-organic, plant-based yogurt alternatives and protein shakes.

San Francisco-based Forager, which also produces dairy-free milk, sour cream and creamer, cold-pressed juices and vegetable snacks, was certified organic in September 2014 by CCOF Certification Services LLC. The company’s cashew-based alternative yogurt, called Cashewgurt, is made from organic cashews sourced from Vietnam and the Ivory Coast.

Forager, founded in 2013, said it will use the undisclosed investment from Danone Manifesto Ventures to “build its portfolio of innovative products, enhance sustainable sourcing and production, increase brand awareness and widen distribution.”

“Over the years we had the chance to develop a special relationship with Stephen and his talented team, and today we’re very excited to start this partnership with Forager Project,” said Jean-Francois Hurel, chief investment officer at Danone Manifesto, which launched in 2016 and is based in New York City.

Other Danone Manifesto investments include Farmer’s Fridge and Kona Deep as well as a $30 million investment round in Harmless Harvest Inc., a U.S. refrigerated, certified-organic coconut water.

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