France-based dairy and drinks multinational Danone has invested in Kona Deep, a Hawaiian ocean bottled water that is claimed to be naturally rich in electrolytes.
The company has taken a minority stake in the firm via its venture arm Danone Manifesto Ventures, participating in Kona Deep’s $5.5 million financing round, which includes Grand Crossing Capital and other Hawaiian investors.
Kona Deep is described as offering a premium pure water with unique properties, sourced from deep ocean water at 3,000 feet below ocean surface in Kona, Hawaii.
Laurent Marcel, managing director of Danone Manifesto Ventures, said: “Kona Deep is a great strategic fit for Danone Manifesto Ventures, creating a new water category with a strong focus on taste, hydration and sustainability and supported by a highly talented management team”.
“Kona Deep’s premium water has very attractive growth potential with consumers seeking great tasting water products with compelling hydration benefits”, he added.
Kona Deep will use the investment to expand distribution, increase and optimize production capacity and raise brand awareness.
Source: Danone (via BusinessWire) / ESM