General Mills’ 301 INC Launches VC Unit to Invest in Emerging Food Brands

301301 INC, the new business development and venturing unit within General Mills, launched a new strategy focused on building partnerships with food brands to create innovation in the food space.

Led by John Haugen, vice president and general manager, 301 INC provides entrepreneurs and early stage food companies with access to capital, knowledge and expertise of General Mills to develop, grow and expand their businesses.

301 INC, which takes its name from the address of the original Pillsbury A Mill in Minneapolis, is seeking businesses “that have demonstrated early success in the marketplace, have a remarkable product offering and a strong, expandable brand“.
Originally created as a new business development team by General Mills in 2012, 301 INC has focused on developing and launching new business models to generate growth for the company.
The team has brought to market products including Progresso and Nature Valley Bistro Cups, which produces food products made with a single cup coffee brewer, Pillsbury Pancake Batter, a novel innovation that put pancakes in the refrigerated section of the grocery store, and nibblr, a customizable subscription-based snack delivery service.

Headquartered in Minneapolis, Minn., USA, General Mills is one of the world’s largest food companies, operating in more than 100 countries around the world. Its brands include Cheerios, Fiber One, Haagen-Dazs, Nature Valley, Yoplait, Betty Crocker, Pillsbury, Old El Paso, Wanchai Ferry, Yoki, etc.



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