General Mills: 301 INC Leads Multimillion Dollar Investment

Minneapolis / MN. (gm) 301 INC, the venture capital arm of General Mills Inc., is leading a multistage investment of up to USD 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.

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 USD 2.8 million in 2014 which increased to USD 19.5 million in 2020, a 700 percent 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.