General Mills Inc. has acquired Fera Pets Inc., a vet-founded pet supplement company, bringing new health-focused offerings to General Mills’ pet portfolio. This represents General Mills’ first step into the pet supplement category and first acquisition by its new growth equity fund.
As the pet food trend toward humanization continues, consumers are looking for healthful products they can trust. Fera Pets Inc. is reimagining pet supplement products by providing vet-created, science-backed supplements to support pet wellness with high-quality ingredients, accurate dosages and a combination of Eastern and Western medicine.
“The pet well-being category is on the rise, as more families look to take care of their pets the same way they take care of their own health,” said John Parrish, VP of disruptive growth for General Mills. “We’re excited to welcome Fera Pets Inc. to its new home and look forward to partnering to scale the brand and bring more high-quality pet supplement products to more pets.”
Fera Pets Inc. will become part of General Mills’ new growth equity fund, designed to own, scale and incubate strategically aligned businesses for future integration into the company’s core portfolio. This growth fund is the third pillar of Gold Medal Ventures, General Mills’ innovation ecosystem, joining G-Works, its internal venture studio, and 301 INC, its corporate venture capital arm.
“We are thrilled to join the General Mills family and embark on a new chapter of growth for our business,” said Michelle Dulake, veterinarian and co-founder of Fera Pets Inc.
“Fera Pets Inc. was created after recognizing a lack of transparency in the pet supplement category and a gap in the market for a holistic approach to our pets’ well-being. With the support of General Mills’ scaling capabilities, we are looking forward to furthering our mission to create better lives for pets and their families.”
General Mills’ scale will unlock new opportunities for its growth fund portfolio companies by using the company’s brand building excellence, omnichannel expertise and advantaged capabilities. These brands will remain founder-led and independently-operated while being provided access to talent and expertise designed to fuel their growth.
“In the venture capital arm, we are constantly scouting for passionate, relentless founders where General Mills has a distinct ability to accelerate their growth,” said Johnny Tran, managing director, 301 INC, which sources opportunities for the growth equity fund.
“Co-founders Michelle and Emily put their hearts and souls into Fera Pets Inc., and their passion makes them a perfect first partner for the growth fund.”
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