Danone Manifesto Ventures, the venture arm of Danone, participated in the financing round alongside Grand Crossing Capital and local Hawaiian investors that have supported the brand. Kona Deep intends to use the investment to support its growth initiatives by expanding distribution, increasing and optimizing production capacity and raising awareness of its deep ocean water that is naturally rich in electrolytes and delivers an extraordinary taste and hydration experience.

Kona Deep is creating a new category of premium water with its unique deep ocean water, sourced 3,000 feet below ocean surface in Kona, Hawaii from a pure source with natural minerals and no additives used during the process. Once brought to the surface, the water is desalinated and bottled at the source, retaining natural minerals and electrolytes and offering the perfect balance of hydration and taste. The Company has an experienced management team led by Chief Executive Officer Patrick Turpin, former Co-Founder & President of popchips, which Mr. Turpin helped build into a leading better for you snack brand in North America and the U.K.

"As we develop this new category of deep ocean water we are excited to partner with Danone Manifesto Ventures and expand our relationship with Grand Crossing Capital," said Mr. Turpin. "Danone Manifesto Ventures is part of a group that has significant expertise with premium water brands globally, is aligned with our core values, and is focused on a business sustainability agenda, making them a great partner for Kona Deep. We look forward to working together to execute on our growth initiatives and provide consumers with great-tasting, sustainable and natural bottled water with real hydration benefits."

Danone Manifesto Ventures is the corporate venture unit of Danone and was created in September 2016 to invest in early stage, disruptive food and beverage, and food technology companies. Danone Manifesto Ventures partners with companies that share its vision of a healthy and sustainable future of food and leverages its experience to support its partners' growth as a collaborative investor. The investment in Kona Deep is Danone Manifesto Ventures' fifth investment since inception.

"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," said Laurent Marcel, Managing Director of Danone Manifesto Ventures. "Kona Deep's premium water has very attractive growth potential with consumers seeking great tasting water products with compelling hydration benefits."

"We look forward to utilizing our resources and expertise and leveraging the significant operating experience of Kona Deep's management team to capitalize on the opportunities ahead," said Jean-Francois Hurel, Head of Investment of Danone Manifesto Ventures.

"We have continued to be impressed with the Kona Deep management team and performance in accelerating the new category's sales growth trajectory," said Brian Jacobsen, Managing Partner, Grand Crossing Capital. "We are pleased to expand our partnership with the company as it continues to grow its brand across the United States."

About Kona DeepTM

Kona DeepTM represents a completely new category of water: deep ocean water replete with a unique blend of naturally occurring deep ocean electrolytes. Kona DeepTM is sourced from the deep ocean waters of Hawaii, 3000 feet beneath the ocean surface, where cold, pressure and natural minerals combine to create an exceptionally high quality water. Once brought to the surface, the water is desalinated and bottled at the source with absolutely nothing added.

After launching in Hawaii in late 2015, Kona Deep has recently expanded onto the U.S. mainland where the demand for premium waters and performance waters is growing rapidly. Hawaiian deep ocean water offers consumers both the purity of a trusted natural source and the performance benefits of naturally occurring deep ocean electrolytes. Kona DeepTM is sold primarily in leading grocery and natural food stores.

About Danone Manifesto Ventures

Launched at the end of 2016, Danone Manifesto Ventures is the venture arm of Danone, with a mission to invest and support innovative food and beverages companies that share its vision of a healthy and sustainable future. Through this unit, Danone makes investments and provides financial and operational support to its portfolio companies through access to its experienced teams around the world, while preserving the autonomy required to grow their entrepreneurial project. To this day, Danone Manifesto Ventures has completed five investments including Yooji and Michel et Augustin in France, along with Farmers Fridge, Accel Foods and Kona Deep in the United States.

About Grand Crossing Capital

Grand Crossing Capital LLC is a Chicago-based private equity firm that invests in branded consumer businesses. Grand Crossing's unique family-office backing and its experienced professionals with both consumer investing and operating experience make Grand Crossing a patient, value-added partner to its portfolio companies. More information can be found at www.grandcrossing.com.