Vegan company Purely Elizabeth received $3 million in General Mills’ latest plant-based investment.
Food corporation General Mills has made a sizeable investment in another vegan company, breakfast brand Purely Elizabeth. The vegan granola and cereal company received $3 million from General Mills’ investment arm 301 Inc., for a minority stake. Purely Elizabeth was founded seven years ago by Elizabeth Stein who wanted to create healthy foods from raw, nutrient-dense ingredients. “Purely Elizabeth is a remarkable brand with a premium breadth of products that have had incredible success in the natural and organic foods channel,” 301 Inc., general manager John Haugen said. “Our strategic partnership allows us to utilize the resources and support of General Mills to boost our new product development,” Stein said, “furthering our mission to redefine the standards of packaged foods.” Purely Elizabeth is the latest plant-based investment for General Mills, a list which currently also includes plant-based meat brand Beyond Meat, vegan cheesemaker Kite Hill, kale chip company Rhythm Superfoods, plant-based protein bar brand D’s Naturals, and probiotics brand Farmhouse Culture.