Last week, giant General Mills announced that it had led a $6 million investment round in kale chip company Rhythm Superfoods. The company, known for its cereal, first invested in the company in 2016.
CEO Scott Jensen said, “We are elated with our new investment from 301 Inc. and look forward to continuing this strategic partnership and seeing what we can accomplish for the brand together.” We are also thrilled to see a company like General Mills expand into what many call the “health” market. The truth is people have been speaking with their money more and more and companies like General Mills (and Kellogg’s who has continually lost money and just recently laid off 250 people in the town of Battle Creek, MI, where the cereal giant was born) are wise to get on board.
From the article:
“The company currently has several lines of vegetable-based snacks, including roasted lacinato kale chips in innovative vegan flavors such as Zesty Nacho and Smoky Bacon. In 2015, 301 Inc. also led an $18 million investment round for vegan company Kite Hill. Most recently, General Mills made another leap into the lucrative plant-based industry by way of filing a patent for a project to explore creating dairy-free products—including yogurt, milk, and mayonnaise—using a variety of beans and legumes such as fava beans, lentils, and adzuki beans.”
As a vegan I can tell you that finding a good dairy substitute is exciting because let’s be honest, cheese is good- it’s just not good for you and wasn’t made for you because you aren’t a cow. We will be watching General Mills with a lot of interest and will keep you updated!