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January 31, 2022: 12:00 AM EST
New financing of $50 million will support innovation, a new category launch and efforts to build the core business and capacity in Boulder, Colo. The financing round includes the new SEMCAP Food & Nutrition division, Swander Pace Capital and Fresh Del Monte. The company’s founder and the investors see strong opportunities to expand its distribution network of over 15,000 retailers, building on a CAGR of over 50% for the past six years. It adds that it was a gamble to include ingredients like chia seeds when it set out over a decade ago, but it has paid off. For sweetener it uses coconut sugar, which retains nutrients such including potassium, magnesium, zinc, iron and B vitamins. The granola products have ancient grains, like amaranth and quinoa.
Mary Ellen Shoup, "Purely Elizabeth closes $50m Series B funding round: 'There's an opportunity to double distribution'", FoodNavigator-USA.com, January 31, 2022, © William Reed Ltd
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