General Mills Inc., an American multinational manufacturer, with a portfolio including Cheerios, Betty Crocker, Blue Buffalo, Pillsbury, Haagen-Dazs, Annie’s and Cascadian Farm, has announced that they are leading $40 million of funding into vegan dairy brand Kite Hill.
The Minneapolis-based company offers products across over 100 countries on six continents. The new investment is led by their venture capital arm 301 Inc., and will fund dairy alternative brand Kite Hill. The dairy alternative producers make almond milk-based yogurts and cream cheeses which are sold in Whole Foods and Kroger amongst other retail locations, and will utilise the funding for increased factory production and advertising.
Kite Hill Chief Executive Officer Rob Leibowitz said there was a “tidal wave” of consumer demand for plant-based products. He commented that, “Almond milk is the most credible place to be. It provides a great platform for us to grow.”