General Mills invests in plant-based bar maker

2 Mar 2017

D's Naturals, creator of low sugar plant-based No Cow protein bars, has announced it has received a significant investment from 2x Partners and 301 INC, the new business development and venturing unit of General Mills.

D's Naturals, creator of low sugar plant-based No Cow protein bars and the low sugar protein-infused nut butters, Fluffbutter, has announced it has received a significant investment from 2x Consumer Products Growth Partners (2x Partners), a private equity investor in the emerging consumer products space and 301 INC, the new business development and venturing unit of General Mills. The collaboration with 2x Partners and General Mills will help to provide the resources the company needs for its next stage of growth, it said. Terms of the investment, which was led by 2x Partners, were not disclosed.

D's Naturals was founded in 2015 byDaniel Katz ("D") after realising he had a dairy sensitivity. After failing to find a plant-based protein bar that was low in sugar on the market, D began developing the No Cow bar. The company has now grown to nearly $10 million in revenue and gained national distribution in over 10,000 retail locations.

"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," said Katz. "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."

The No Cow bar delivers at least 20 grams of plant-based protein per bar with only 1 gram of sugar. In addition, the bars are dairy free, soy free, gluten free, vegan and non-GMO, and come in a variety of flavours such as Peanut Butter Chocolate Chip, Raspberry Truffle, Blueberry Cobbler and Lemon Meringue Pie. Similarly, Fluffbutter is made with simple ingredients like brown rice and pea proteins, infused into an almond or peanut butter spread. Fluffbutter contains 1 gram or less of sugar per serving, is free of dairy, soy, gluten and GMOs and comes in flavours ranging from Vanilla Maple Frosting to Creamy Chocolate S'mores.

"D's Naturals is a true innovator among performance food products. We're incredibly excited to partner with D and 301 INC to help maximize success," said Andy Whitman, Managing Partner at 2x Partners.

"We are impressed with how much D has been able to accomplish for his emerging brand over the past two years,” said John Haugen, Vice President and General Manager of 301 INC. “No Cow bars offer consumers a convenient way to access nutrient-rich, plant-based proteins, which is gaining more and more consumer interest. We're eager to help him take his business to the next level."