Hain Celestial launches Cultivate Ventures platform

Organic and natural products company The Hain Celestial Group has launched its Cultivate Ventures (Cultivate) platform.

Cultivate will make use of several teams such as marketing, supply chain and sales to strengthen its brands.

By investing on the new strategic platform, the company aims to bolster its lifestyle brands, smaller portfolio brands and concepts as well as incubator opportunities, which should benefit from the larger scale and leverage of Hain Celestial's infrastructure.

Beena Goldenberg has been appointed chief executive officer of Cultivate.

Hain Celestial founder president and chief executive officer Irwin Simon said: “Since Hain Celestial's inception, we have invested in health and wellness brands and concepts, giving them the infrastructure to grow.

“We formed Cultivate Ventures to bring that legacy to our high potential brands, investing in teams with support and focus to help them thrive.

“Beena is now responsible for all aspects of Cultivate, including defining strategic direction, top-line revenue and profitability.

“Teams that include marketing, sales and supply chain functions will work with Beena to develop Cultivate and catalyze growth of the brands, along with identifying smaller acquisition and investment targets.

“These brands will benefit from Beena's proven track record in growing our Canadian subsidiary, both organically and through acquisitions over the past decade."

The company plans to strategically invest in small acquisitions until they reach the scale of the company's core platforms. It also plans to invest in lifestyle brands, concepts, products and technology.

Goldenberg said: "Cultivate Ventures will renew our company's entrepreneurial spirit and reaffirm Hain Celestial's position as the leader to create and inspire consumers.

"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."