Hain Celestial Group Inc., the Lake Success-based organic and natural products maker, has acquired the Better Bean Co., a seller of chilled prepared beans.
Better Bean is the first acquisition made by Hain Celestial’s Cultivate Ventures platform, the company announced Wednesday. The purchase price and acquisition terms were not disclosed.
Better Bean, based in Portland, Oregon, was founded in 2010 by the father-daughter team of Keith and Hannah Kullberg. It sells eight varieties of beans and bean-based dips, including refried beans, baked beans and chili. The products are non-GMO verified, vegan and gluten-free.
“We expect to catapult Better Bean’s growth by leveraging Hain Celestial’s strength in sales, distribution, marketing and brand building,” Keith Kullberg, founder and chief executive of Better Bean, said in a statement.
In November, Hain Celestial announced the launch of Cultivate Ventures, a new strategic platform within Hain Celestial dedicated to investing in its established smaller portfolio brands, along with identifying smaller acquisition and investment targets.
Better Bean joins Cultivate Ventures’ other existing brands, such as BluePrint cold-pressed juices, Yves Veggie Cuisine refrigerated vegetarian meals, and Health Valley refrigerated soup products.
“Better Bean products are aligned with consumer demand for nutritious food, plant-based protein, fiber, clean labels and convenience,” Beena Goldenberg, chief executive officer of Cultivate Ventures and Hain Celestial Canada, said in a statement.