Leading US food producer General Mills, through its new business development and venturing unit 301 INC, is among the companies participating in a $12 million investment in NextFoods, the makers of Goodbelly Probotics, according to a recently released statement
The money raised will be used to expand GoodBelly’s national sales team, support capital improvements and drive product innovation. General Mills led the round and the additional investment came from existing investors, including Emil Capital Partners.
Based in Boulder, NextFoods produces organic probiotic juices, shots and bars for its GoodBelly brand, with all products claimed to be free from dairy and soy .
Commenting on the news, NextFoods CEO Alan Murray said: “We are excited to partner with 301 INC to help take GoodBelly Probiotics to the next level. This investment is a testament to GoodBelly’s leadership in the category and the continued growth of probiotic food and beverages. With this partnership, we look forward to driving new product innovation as well as expanding our team to reach new consumers”.
301 INC vice president and general manager John Haugen added: “We’re thrilled that GoodBelly is joining the 301 INC investment portfolio. The digestive health space is emerging quickly, and we look forward to helping GoodBelly reach more consumers through its remarkable products and brand”.
Source: NextFoods (via Globe Newswire)