Purely Elizabeth Secures Funding from 301 INC to Expand Development of Superfood-Fueled Products

Purely Elizabeth, a company known for creating 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, company officials say. 

"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," says 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."

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, officials say. 

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 Mushroom Formula, for health benefits ranging from immune and neurological health to cholesterol management and increased circulation. The new bars will be available in five functional flavors designed to cater to individual needs and will be on store shelves nationwide in August 2017.

"Purely Elizabeth is a remarkable brand with a premium breadth of products that have had incredible success in the natural and organic foods channel," saus 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."