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Danone backs Hawaiian brand

Reuters
Tuesday, November 28, 2017

PARIS - Evian and Volvic owner Danone has put money into a Hawaiian bottled water from the bottom of the Pacific Ocean, showing the depths multinationals will now go to in the quest to stand out.

The investment in Kona Deep, for an undisclosed sum, is the fifth in a year for Danone Manifesto Ventures, a fund the French food giant set up last year to invest in entrepreneurial companies, which are eating away at the dominance of big brands.

Kona Deep sources its water from a deep ocean current off the coast of Hawaii. The two-year-old company says its water has a unique blend of naturally occurring electrolytes and minerals that make it extra-hydrating.

Danone (DANO.PA), the world's No. 3 bottled water company, is one of nine food giants to set up such a fund recently.

A case of 12 1-litre bottles of Kona Deep can be found online for $US33 ($F69), nearly triple the price of a case of Evian.








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