Danone investment arm spends £2.5m on drinks brand Moju
The multi-million-pound funding round included participation from professional footballer Hector Bellerin, former Graze chief operating officer Tom Carroll and former Hello Fresh chief operating officer Roger Hassan.
This investment was the first by DMV in the UK market and represented the strong partnership between Moju and Danone over the past 12 months.
Previous investments by DMV included US-based coconut drinks firm Harmless Harvest, French baby food maker Yooji and plant-based milks and yogurts manufacturer Forager Project.
‘Investing in every channel’
Moju co-founder and chief executive Rich Goldsmith said: “The past year has been incredibly tough for the UK, its people and its businesses. We feel privileged to be in a position where, with the support of a new group of investor partners, we can invest across every channel of the business, to increase brand awareness, drive innovation and enhance sustainable sourcing.
“We’re building on the momentum our awesome team generated in 2020, and we’re super excited to accelerate out of the other side of the pandemic.”
M&A activity
DMV’s investment in Moju followed a recent trend of multi-nationals funding and buying smaller businesses to acquire skills they might lack or might be unable to develop.
The group said the investment was a very positive signal for the wider UK past moving consumer goods market and brand owners, with potential for more investment in start-ups in the future.
Paul Chifflet, DMV head of Europe, added: “Moju is a thriving omnichannel business with a smart and strong team that are addressing the fast-emerging consumer needs for natural functional and experiential products. We are excited to be partnering with the team on their next phase of growth.”
Meanwhile, Traditional Norfolk Poultry (TNP) has invested £5m in expanding its processing capacity for chickens and Christmas turkeys as part of a five year plan to meet increasing consumer demands.
