MINNEAPOLIS, Minnesota - 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 U.S.
The investment into Pots & Co is supported by increased retail distribution in the U.S. 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 U.S. All products distributed in the U.S. are currently handmade in Pots & Co's London-based factory. This investment will also enable the business to explore manufacturing capabilities in the U.S. 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 U.S."
John Haugen, founder and Managing Director of 301 INC, 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 U.S. market."
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.
For more information about 301 INC, visit 301INC.com.
About General Mills
General Mills is a leading global food company whose purpose is to make food the world loves. Its brands include Cheerios, Annie's, Yoplait, Nature Valley, Häagen-Dazs, Betty Crocker, Pillsbury, Old El Paso, Wanchai Ferry, Yoki, BLUE and more. Headquartered in Minneapolis, Minnesota, USA, General Mills generated fiscal 2020 net sales of U.S. $17.6 billion. In addition, General Mills’ share of non-consolidated joint venture net sales totaled U.S. $1.0 billion.
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.
General Mills Corporate Communications