Venture Capital News: Purely Elizabeth Receives $3M
BOULDER, CO, Today, Purely Elizabeth announced the company received a minority investment of $3 million from 301 INC, the General Mills new business development and venturing unit.
Purely Elizabeth, a leading natural foods company known for creating award-winning and nutrient-dense granola, oatmeal, muesli and cereal, announced the company received a minority investment of $3 million from 301 INC, the General Mills new business development and venturing unit. Support from 301 INC will propel Purely Elizabeth's continued new product development and will further expedite the brand's growth trajectory in natural and conventional grocery channels.
"We are thrilled to partner with 301 INC to help foster and grow the vision of the brand, and we look forward to seeing what we can accomplish together," said Elizabeth Stein, Purely Elizabeth Founder and CEO. "This investment is a great validation that Purely Elizabeth has become a brand to watch in the natural foods industry. Our strategic partnership allows us to utilize the resources and support of General Mills to boost our new product development, furthering our mission to redefine the standards of packaged foods."
"Purely Elizabeth is a remarkable brand with a premium breadth of products that have had incredible success in the natural and organic foods channel," said John Haugen, Vice President and General Manager of 301 INC. "Purely Elizabeth continues to be a stand-out in the nutrient-dense foods. We look forward to helping the brand unlock new areas of growth."
301 INC's minority investment is the first and only outside funding the brand has accepted to date, and will allow Purely Elizabeth to launch new lines at a faster pace and continue to stay ahead of the curve on new product innovations. In addition, the capital, assets, and expert knowledge from the General Mills team will further aid in the brand's success and rapid growth pattern. Purely Elizabeth joins an esteemed group of 301 INC brand investments.
This summer, Purely Elizabeth will launch a line of superfood mushroom-powered Wellness Bars, which are made from a base of the brand's best-selling Original Ancient Grain Granola combined with Om MushroomTM Formula, for a powerful boost of health benefits ranging from immune and neurological health to cholesterol management and increased circulation. The new bars will be available in five functional and carefully crafted flavors designed to cater to individual needs and will be on store shelves nationwide in August 2017.
Purely Elizabeth is committed to using only premium quality natural and organic ingredients to create unique and nutritious products that utilize ancient grains, superfood seeds, and probiotic cultures. All of Purely Elizabeth's products are made with certified gluten-free, vegan, organic, and non-GMO project-verified ingredients and are free of artificial flavors, colors, sweeteners, or preservatives. Purely Elizabeth's product lines include Ancient Grain, Grain-Free and Probiotic Granolas, Ancient Grain Muesli, Oatmeal and Cereal, and are available in 12, 8, and 2 oz. pouches as well as Grab-and-Go Cups in retailers such as Whole Foods Market, Target and Publix, as well as at www.purelyelizabeth.com.
About Purely Elizabeth
Purely Elizabeth was founded in 2009 by Elizabeth Stein, a certified holistic nutrition counselor. Realizing that the superfoods and ancient grains she was recommending weren't readily available on store shelves, Stein created a first-of-its-kind line of gluten-free, ancient grain granola that was an instant hit among consumers. As founder and CEO, she continues to maintain a clear vision and strict dietary guidelines for Purely Elizabeth, while innovating with products like muesli, grain-free granola, probiotic granola, oatmeal, cereal, and more. Stein previously released a #1 Amazon best-selling cookbook, Eating Purely, which further illustrates her dedication to making health a priority, but never an inconvenience. A selection of Purely Elizabeth products can be found nationwide at Whole Foods Market, Kroger, Target, and most recently Publix.
For more information about Purely Elizabeth's brand and products, please visitwww.purelyelizabeth.com or follow us on Facebook @purelyelizabeth, Twitter @purelyelizabeth, Pinterest @purely elizabeth, and Instagram @purely_elizabeth.
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