Simple Mills Acquisition, Valuation, Funding & Investors

Simple Mills was acquired by Flowers Foods for $795M in January 2025, a 3.3x multiple on $240M of revenue.

Simple Mills acquisition price

$795M

Acquired by Flowers Foods · Jan 2025

Simple Mills revenue at acquisition

$240M

Last twelve months · Jan 2025

Simple Mills revenue multiple at acquisition

3.3x

EV/Revenue · Jan 2025

Simple Mills EBITDA multiple at acquisition

17.2x

EV/EBITDA · Jan 2025

Simple Mills Overview

About Simple Mills

Simple Mills is a Chicago-headquartered maker of organic, grain-free baking mixes, crackers, and cookies using almond flour, coconut sugar, and seed blends. Founded in 2007, its products appear in over 10,000 U.S. stores including Target and Costco. Acquired by Kellogg in 2021, Simple Mills expanded into protein bars and hot cereals, serving paleo, keto, and gluten-free diets with nutrient-dense snacks.


Founded

2013

HQ

United StatesChicago, IL

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$240M (Jan 2025)

Valuation

$795M (acquired Jan 2025)

Simple Mills Acquisition

Simple Mills was acquired by Flowers Foods for $795M on 8 January 2025.

The acquisition price implies a 3.3x revenue and 17.2x EBITDA multiple on $240M of revenue.

Before the acquisition Simple Mills had raised $7M across 3 funding rounds.

Simple Mills acquisition details
AcquirerDateTypePriceEV/RevenueEV/EBITDA
8 Jan 2025Strategic M&A$795M3.3x17.2x

Simple Mills Funding History

Simple Mills has raised a total of $7M across 3 funding rounds.

Simple Mills' first fundraising round was a $1M seed round in July 2014. The most recent completed round was a $3M seed round in January 2019.

Simple Mills funding rounds

Simple Mills funding rounds
DateStageInvestorsRaisedDeal Summary
Jan 2019SeedHPA (Hyde Park Angels)$3MSimple Mills is a market-leading natural foods brand offering premium better-for-you crackers, cookies, snack bars, and baking mixes, founded in 2012 by Katlin Smith. HPA led Simple Mills' first institutional capital round in 2014 and provided subsequent capital and strategic support. The company participated in a Series C round on October 7, 2019, with Vestar Capital Partners as an investor. Simple Mills had a valuation of $10.71M as of February 2016 and raised a total of $7.19M over multiple rounds.
Feb 2016SeedHPA (Hyde Park Angels); Bridge Investments$3M-
Jul 2014SeedHPA (Hyde Park Angels)$1M-

Who has invested in Simple Mills?

2 investors have backed Simple Mills across its funding rounds, including HPA (Hyde Park Angels) and Bridge Investments.


Simple Mills Investors

Investors in Simple Mills by funding rounds participated
InvestorHQRoundsRoleFirst check

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Simple Mills Competitors

Simple Mills competitors include listed companies like Atlantic Grupa, Frosta, Yantai Shuangta Food and Savencia Fromage & Dairy, and private ones like Athletic Brewing and GOOD Meat.

Public and private companies comparable to Simple Mills
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Athletic BrewingUnited StatesBoston, MAPrivate$90M-$800M8.9x
GOOD MeatUnited StatesSan Francisco, CAPrivate--$800M-
Atlantic GrupaCroatiaCroatiaPublicly listed$1.3B$117M$803M0.8x
FrostaGermanyGermanyPublicly listed$764M$79M$805M-
Yantai Shuangta FoodChinaChinaPublicly listed$318M$32M$815M-
Savencia Fromage & DairyFranceFrancePublicly listed$7.8B$438M$819M0.3x

Simple Mills Public Comps

Simple Mills is no longer listed, but its public comps include Atlantic Grupa, Frosta, Yantai Shuangta Food, Savencia Fromage & Dairy, Agrana Beteiligungs, Acomo, Orkla India, Standard Foods, Carozzi and Harim Holdings.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Atlantic Grupa$1.3B$117M0.8x0.8x9.5x9.0x
Frosta$764M$79M0.9x-9.1x-
Yantai Shuangta Food$318M$32M2.9x-28.6x-
Savencia Fromage & Dairy$7.8B$438M0.3x0.3x5.0x4.0x
Agrana Beteiligungs$3.6B$117M0.4x0.4x11.8x6.2x
Acomo$1.6B$143M0.7x0.7x8.2x8.8x
Orkla India$265M$46M2.9x2.6x16.3x16.1x
Standard Foods$847M$64M0.8x-10.7x-

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Common questions about Simple Mills

When was Simple Mills founded?Simple Mills was founded in 2013.
Where is Simple Mills headquartered?Simple Mills is headquartered in Chicago, IL, United States.
Is Simple Mills publicly listed?No, Simple Mills was acquired by Flowers Foods in January 2025.
Who acquired Simple Mills?Simple Mills was acquired by Flowers Foods in January 2025.
How much was Simple Mills acquired for?Simple Mills was acquired for $795M in January 2025, a 3.3x revenue multiple.
How much funding has Simple Mills raised?Simple Mills has raised $7M across 3 funding rounds.
What was Simple Mills' last funding round?Simple Mills' last funding round was a $3M seed round in January 2019.
Who are Simple Mills' investors?Simple Mills' investors include HPA (Hyde Park Angels) and Bridge Investments.
Which companies are comparable to Simple Mills?Companies comparable to Simple Mills include Athletic Brewing, GOOD Meat, Atlantic Grupa, Frosta, Yantai Shuangta Food and Savencia Fromage & Dairy.

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