General Mills Becomes Largest Investor in Vegan Cheese & Yogurt Company
General Mills has just become the biggest investor in Kite Hill, a vegan company that specializes in almond-based cheeses and yogurts.
Last week, The New York Times reported that Kite Hill raised an impressive $18 million in venture capital, with the largest (undisclosed) amount coming from 301 INC., the venture capital arm of General Mills. According to John Haugen, the vice president and the general manager of 301 INC., Kite Hill represents vegan food with no compromises in terms of taste. He stated:
“Plant-based used to be more synonymous with sacrifice than with taste. Now, companies like Kite Hill are able to deliver plant-based products that taste good.”
Kite Hill, which is based in California, currently creates plant-based cheeses, cheese spreads, and yogurts. The product line has been steadily expanding, and the company currently sells their products at all Whole Foods locations nationwide. Chief executive of Kite Hill, Matthew Sade, stated that General Mills will support the company’s growth:
“General Mills has tremendous expertise around manufacturing and the supply chain, things that a company like ours can really benefit from as we expect to grow aggressively. We get inquiries from as far away as Europe, so we know there’s a great demand for our products — the question is how do we get there.”
Hopefully the investments made from General Mills and others will allow Kite Hill to keep up with the increasing demand for their plant-based cheeses and yogurts!
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