MINNEAPOLIS — 301 INC, the investment arm of General Mills, Inc., is leading a multistage investment of up to $20 million in Pots & Co, in partnership with other investors. Pots & Co offers a range of desserts sold in reusable ceramic pots in supermarkets across the United Kingdom.
Available in varieties such as chocolate fudge lava cake, upside-down lemon cheesecake, apple and cinnamon crumble and sticky toffee lava cake, the ceramic pots give the desserts a creamy texture and artisan touch, according to the company.
Pots & Co will leverage the investment to expand its product range and grow its footprint in the United States. The investment is supported by increased retail distribution focused on the West Coast and Rocky Mountain region. The company initially will supply its range of potted desserts and has longer-term plans to offer its new savory, Mezze style dips range.
The increased retail distribution marks a major expansion for the London-based company, which currently produces all of its products in the United Kingdom. 301 INC’s investment will allow the business to explore manufacturing capabilities in the United States, said Julian Dryer, founder of Pots & Co.
“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 create fabulous products for the American consumer,” Mr. Dryer said. “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.”
Pots & Co is 301 INC’s first overseas investment.
“Our mission is to discover new and emerging food brands with a remarkable offering,” said John Haugen, founder and managing director of 301 INC. “Pots & Co fulfils that mission with its focus on natural ingredients to create desserts of restaurant quality. We believe Pots & Co will deliver substantial growth with an increasing range of desserts and with its move into savory products.”