301 INC, the venture capital arm of General Mills, is leading a multistage investment of up to $20 million in Pots Co, in partnership with other investors. Pots Co, the London-based food company best known for its range of hand-crafted potted desserts available in UK supermarkets, will leverage the investment to propel its growth strategy, expanding its product range and distribution in the US.
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301 INC, General Mills venture capital arm, leads multimillion dollar investment in London-based Pots Co, to expand brand's US presence. (Photo: Business Wire)
The investment into Pots Co is supported by increased retail distribution in the US focused on the West Coast and Rocky Mountain region. Pots Co will initially supply both its range of unique potted desserts and has longer-term plans to also offer its new savory, Mezze style dips range.
The expanded retail distribution of select Pots Co products marks a major expansion effort in the US. All products distributed in the US are currently handmade in Pots Co's London-based factory. This investment will also enable the business to explore manufacturing capabilities in the US as well as invest further into marketing and distributing the brand.
Julian Dyer, Founder of Pots Co, said, "We want to create one of the world's leading food brands and we are thrilled that General Mills has invested in Pots Co, enabling us to speed up the growth of our business and creating fabulous products for the American consumer. We continue to focus on exceptional quality and taste, using only the finest natural ingredients to deliver top quality desserts and savory food to supermarket aisles in both the UK and the US."
John Haugen, Founder and Managing Director of 301 INC, the venture capital arm of General Mills, said, "Our mission is to discover new and emerging food brands with a remarkable offering. Pots Co fulfils that mission with its focus on natural ingredients to create desserts of restaurant quality. As our first overseas investment and first investment in a UK company, we believe Pots Co will deliver substantial growth with an increasing range of desserts and with its move into savory products. We're excited to partner as the brand expands its presence in the US market."
General Mills 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.
Pots Co has generated rapid growth since it was founded in London in 2012. It produced sales of nearly $2.8 million in 2014 which increased to $19.5 million in 2020, a 700% increase over six years. Pots Co currently produces 16 million handmade desserts a year and is also famous for its signature ceramic pots spun by a family business in Valencia, Spain.
About Pots Co
Pots Co is obsessed with food. Every pot is hand-crafted in small batches with uncompromising care, with only the best ingredients, with absolutely nothing artificial and presented in beautiful reusable ceramic pots. The company, established in 2012, is on a mission to rescue people from bland, uninspiring mass-market foods one product at a time.
The UK-based culinary team is raising the bar in the prepared foods segment by completely reinventing it for discerning foodies who crave more memorable, restaurant-quality food experience in the comfort of their own home.
For more information on 301 INC, visit www.301inc.com.
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Contacts:
Mike Siemienas
Media.line@genmills.com
763-764-6364
