DENVER — D’s Naturals, a maker of protein bars and spreads, has received an investment from 301 INC, the business development and venturing unit of General Mills, and 2x Consumer Products Growth Partners, a private equity investor. Financial terms were not disclosed.
Founded in 2015 by then 18-year-old Daniel Katz, D’s Naturals brands include No Cow bars and Fluffbutter spreads. All products are free of soy, gluten, dairy and bioengineered ingredients and contain 1 gram of sugar or less per serving.
Mr. Katz, who has a dairy sensitivity, developed the products after failing to find a low-sugar, plant-based protein bar on the market. The company has grown to nearly $10 million in revenue with distribution in more than 10,000 retail locations.
|Daniel Katz, founder of D's Naturals|
“My mission is to create low-sugar, plant-based products that fuel an active lifestyle and offer more options to people living with dietary restrictions or choosing to eat more plant-based foods,” Mr. Katz said. “I’m proud of what we’ve been able to accomplish in the last two years, but I’m even more excited for what’s to come. I look forward to working with 2x Partners and the 301 INC team at General Mills as we create a No Cow revolution.”
Other investments by 301 INC have included Rhythm Superfoods, which makes kale chips and beet chips; Kite Hill, a producer of nut milk cheeses and yogurts; and Beyond Meat, a maker of plant-based chicken and beef substitutes.
|John Haugen, vice-president and general manager of 301 INC.|