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- Purely Elizabeth
Purely Elizabeth Acquisition, Valuation, Funding & Investors
Purely Elizabeth was acquired by Ferrero for $600M in August 2026, a 3.0x multiple on $200M of revenue.
Purely Elizabeth acquisition price
$600M
Acquired by Ferrero · Aug 2026
Purely Elizabeth revenue at acquisition
$200M
Last twelve months · Aug 2026
Purely Elizabeth revenue multiple at acquisition
3.0x
EV/Revenue · Aug 2026
Cumulative funding Purely Elizabeth raised
$53M
across 2 funding rounds
About Purely Elizabeth
Purely Elizabeth is a Boulder-headquartered brand of organic, gluten-free granolas, cereals, and baking mixes using ancient grains like quinoa and amaranth. Certified organic and Non-GMO Project Verified, products avoid refined sugars and include flavors like Original and Chocolate Sea Salt sold at Whole Foods and Target nationwide. The company donates 1% of sales to environmental causes through 1% for the Planet.
Founded
2009
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Revenue
$200M (Aug 2026)
Valuation
$600M (acquired Aug 2026)
Sectors
Purely Elizabeth Acquisition
Purely Elizabeth was acquired by Ferrero for $600M on 14 August 2026.
The acquisition price implies a 3.0x revenue multiple on $200M of revenue.
Before the acquisition Purely Elizabeth had raised $53M across 2 funding rounds.
Ferrero Group signed an agreement in August 2026 to acquire Purely Elizabeth, a U.S.-based better-for-you breakfast brand, in a transaction with undisclosed terms. Prior to the deal, Purely Elizabeth had been seeking a $600 million valuation after surpassing $200 million in annual sales and was on track for roughly $300 million in sales in 2026. The acquisition expands Ferrero’s presence in the American breakfast aisle and adds a high-growth modern wellness brand centered on granola, oatmeal, and cereal. The deal fits Ferrero’s broader U.S. expansion strategy and follows the company’s continued push into the breakfast and snack categories. Purely Elizabeth was founded in 2009 by Elizabeth Stein and grew into a premium better-for-you food company with a significant national footprint. The brand has built its business around healthier breakfast products and had become a notable player in the granola and oatmeal segment by the time of the sale.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 14 Aug 2026 | Strategic M&A | $600M | 3.0x |
Purely Elizabeth Funding History
Purely Elizabeth has raised a total of $53M across 2 funding rounds.
Purely Elizabeth's first fundraising round was a $3M Series A in April 2017. The most recent completed round was a $50M Series B in January 2022.
Purely Elizabeth funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2022 | Series B | SEMCAP (lead); Swander Pace Capital; Del Monte | $50M | Purely Elizabeth is a female-led natural food brand offering nutrient-dense breakfast products including granola, oatmeal, pancake and waffle mixes made with organic ancient grains, probiotics, and MCT oil. The company announced the closing of a $50M Series B funding round on January 31, 2022, co-led by SEMCAP's newly launched Food & Nutrition division with co-investors Swander Pace Capital and Fresh Del Monte Produce. This marked the first investment for SEMCAP Food & Nutrition, led by managing partner John Haugen and partners Ryan Newcom and Kate Storey, who had served on the company's board since 2016. The funds are earmarked for product innovation, expansion into e-commerce, increased marketing investment, SKU growth in oatmeal and other lines, and entry into a new undisclosed category. Purely Elizabeth's products are distributed in over 15,000 retail locations, nearly double from five years prior, including major retailers like Whole Foods Market, Publix, Target, and Walmart. The company has demonstrated strong growth, with sources noting a 55% CAGR over the last five years and tremendous performance highlighted by investors. SEMCAP emphasized Purely Elizabeth's commitment to clean, sustainable, organic, non-GMO, and plant-based ingredients that deliver nutrition and taste, aligning with their focus on health and sustainability impact. Founder and CEO Elizabeth Stein praised the partners' operational expertise, values alignment, and long-term relationship in scaling the business. Investors view the brand as catalyzing change in food and nutrition through purpose-driven leadership and proven success. |
| Apr 2017 | Series A | 301 (lead); General Mills (lead) | $3M | Purely Elizabeth is a Boulder, Colorado-based natural foods company founded by Elizabeth Stein, specializing in nutrient-dense granola, oatmeal, muesli, cereal, and related products made with superfoods and ancient grains. The brand emphasizes clean, organic ingredients and has gained recognition in the natural and organic foods channel, with products available in around 10,000 stores nationwide including Whole Foods, Sprouts, Target, Publix, and Fresh Market as of 2017. In April 2017, Purely Elizabeth received a minority investment of $3 million from 301 INC, the venture arm of General Mills, marking its first and only outside funding at that time. Investors 301 INC and General Mills provided capital, expertise, and resources to accelerate new product development, such as mushroom-powered Wellness Bars planned for summer 2017, and expand distribution in natural and conventional grocery channels. |
Who has invested in Purely Elizabeth?
5 investors have backed Purely Elizabeth across its funding rounds, including 301, General Mills, Swander Pace Capital, SEMCAP and Del Monte.
Lead investors include SEMCAP, 301 and General Mills.
Purely Elizabeth Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Apr 2017 | ||
| 1 | Lead | Jan 2022 | ||
| 1 | Participant | Jan 2022 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialPurely Elizabeth Competitors
Purely Elizabeth competitors include listed companies like Lesieur Cristal, Cem Zeytin, ForFarmers and Modern Mills, and private ones like Perfect Day and The EVERY Company.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $600M | - | ||
| Publicly listed | $582M | $24M | $603M | 0.9x | ||
| Publicly listed | $58M | ($3M) | $604M | - | ||
| Publicly listed | $3.6B | $158M | $608M | 0.2x | ||
| Private | - | - | $586M | - | ||
| Publicly listed | $279M | $85M | $585M | 2.6x |
Purely Elizabeth Public Comps
Purely Elizabeth is no longer listed, but its public comps include Lesieur Cristal, Cem Zeytin, ForFarmers, Modern Mills, Mama's Creations, SunRice, Rogers Sugar, Fourth Milling, Nichols and Kasapreko.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $582M | $24M | 0.9x | 0.9x | 22.7x | 18.3x | |||
| $58M | ($3M) | 10.5x | - | (232.3x) | - | |||
| $3.6B | $158M | 0.2x | 0.2x | 5.1x | 4.6x | |||
| $279M | $85M | 2.8x | 2.6x | 9.2x | 8.8x | |||
| $172M | $12M | 2.9x | 2.4x | 41.0x | 24.3x | |||
| $1.3B | $101M | 0.6x | 0.6x | 7.4x | 8.0x | |||
| $941M | $99M | 1.0x | 1.1x | 9.5x | 8.2x | |||
| $176M | $72M | 3.4x | 3.4x | 8.5x | 8.5x | |||
This data is available for Pro users. Sign up to see all Purely Elizabeth competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Purely Elizabeth
| When was Purely Elizabeth founded? | Purely Elizabeth was founded in 2009. |
| Where is Purely Elizabeth headquartered? | Purely Elizabeth is headquartered in Boulder, CO, United States. |
| Is Purely Elizabeth publicly listed? | No, Purely Elizabeth was acquired by Ferrero in August 2026. |
| Who acquired Purely Elizabeth? | Purely Elizabeth was acquired by Ferrero in August 2026. |
| How much was Purely Elizabeth acquired for? | Purely Elizabeth was acquired for $600M in August 2026, a 3.0x revenue multiple. |
| How much funding has Purely Elizabeth raised? | Purely Elizabeth has raised $53M across 2 funding rounds. |
| What was Purely Elizabeth's last funding round? | Purely Elizabeth's last funding round was a $50M Series B in January 2022, led by SEMCAP. |
| Who are Purely Elizabeth's investors? | Purely Elizabeth's investors include General Mills, SEMCAP, Swander Pace Capital, Del Monte and 301. |
| Which companies are comparable to Purely Elizabeth? | Companies comparable to Purely Elizabeth include Perfect Day, Lesieur Cristal, Cem Zeytin, ForFarmers, The EVERY Company and Modern Mills. |
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