General Mills venture arm makes first-ever overseas investment in UK potted pudding producer 301 Inc is leading a multistage multibillion pound investment into Pots & Co to grow its footprint in the US market.
The investment of up to £15m is 301 Inc s first overseas investment and its first in a UK company and will help the London-based producer expand its product range and distribution in the US.
“Our mission is to discover new and emerging food brands with a remarkable offering,” said John Haugen, founder and MD of 301 Inc.
“Pots & Co fulfils that mission with its focus on natural ingredients to create puddings of restaurant quality.”
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Pots & Co, the London-based food company best known for its range of hand-crafted potted puddings, available in UK supermarkets including Waitrose and Sainsbury’s, has today announced that 301 INC, the venture capital arm of General Mills INC, is leading a multistage investment of up to £15m ($20m) into the business as part of a growth strategy to expand its product range and distribution in the US.
General Mills INC is a leading global manufacturer and marketer of branded consumer foods sold through retail stores. Its largest brands include Haagen Dazs, Old El Paso and Nature Valley. Its 301 INC investment arm seeks emerging food brands with compelling products for direct investment, leveraging the skill and capability of General Mills.