NEW YORK — Breakfast cereal brand Magic Spoon has landed distribution in more than 6,800 retail stores following its $85 million Series B funding round last summer. The grain-free, low-sugar, high-protein products will be available at Walmart, Kroger, Albertsons and Target nationwide.
Founded in 2019, Magic Spoon was sold online exclusively until last year, when the startup entered partnerships with Target Corp. in June and Sprouts Farmers Market in September. Recently, the brand added Walmart, Kroger and Albertsons to its list of retailers and is expanding its presence in additional Target stores. Each store will carry the brand’s bestselling core flavors, which include fruity, frosted, cinnamon and cocoa, as well as specialty flavors at select locations.
“The plan was always to eventually enable people to find Magic Spoon everywhere they buy and consume cereal,” said Gabi Lewis, co-founder and co-chief executive officer. “The response from retailers has been incredible. It’s rare they’re able to bring in a new brand that already has millions of active customers, so we’ve been able to develop some really meaningful partnerships that we’re excited about.”
Greg Sewitz, co-founder and co-CEO, added, “Years ago you could create a product that wasn’t especially differentiated, and differentiate purely by selling online and cutting out the costs of distribution and retailers. But that’s not what we did with Magic Spoon. Our differentiation was and continues to be the product itself.”
Inspired by “the flavors and nostalgia of Saturday morning cartoons,” Magic Spoon cereal is formulated with a milk protein blend, plus sweeteners allulose, monk fruit extract and stevia extract, high-oleic sunflower oil, avocado oil, tapioca starch, inulin and natural flavors. A serving has 4 grams of net carbohydrates, 13 to 14 grams of protein and no added sugar.Mr. Lewis and Mr. Sewitz met while attending Brown University. The pair, who previously co-founded Exo, a brand of nutrition bars featuring cricket protein, experimented with recipes for more than a year prior to launching Magic Spoon, which was listed amongTimemagazine’s “Best Inventions of 2019.” The brand has raised more than $100 million to date, with celebrity investors including Shakira, Halsey, The Chainsmokers, Amy Schumer, Odell Beckham Jr., and others.
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