301 INC, the business development and venturing unit of US food firm General Mills, has invested $3 million in Purely Elizabeth, a maker of organic granola, ready-to-eat cereal and oatmeal, according to a report in Food Business News.
Founded in 2009, Purely Elizabeth has a portfolio of “innovative and nutrient-rich ingredients” including granola bars, ancient grain granola, probiotic granola, grain-free granola, oatmeal, muesli and cereal. All the firm’s products are said to be made with certified gluten-free, vegan, organic and Non-GMO Project verified ingredients and to be free from artificial colours, sweeteners and preservatives.
Purely Elizabeth is also about to launch a new line of “superfood mushroom-powered” bars made of ancient grain granola and OM mushroom formula.
“This investment is a great validation that Purely Elizabeth has become a brand to watch in the natural foods industry”, commented Elizabeth Stein, founder and chief executive officer of Purely Elizabeth. “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”.
Source: Food Business News