Kellogg establishes venture capital fund to support growth
The venture capital fund will play an important role in achieving Kellogg's 2020 strategic growth objectives.
Kellogg Co., Battle Creek, Mich., established eighteen94 capital (1894) to make minority investments in companies pursuing next-generation innovation, bolstering access to cutting-edge ideas and trends. The investment mandate includes start-up businesses pioneering new ingredients, foods, packaging and technology.
"As consumer preferences move toward more diverse tastes and trends, the pace of innovation in the packaged food industry continues to intensify," says Gary Pilnick, vice chairman. "By investing directly in the most promising entrepreneurs and ventures, we can increase greatly our access to game-changing ideas and trends that could become significant sources of growth for us. At the same time, we will be providing these companies with essential growth capital and access to Kellogg resources and expertise, which will help drive their ideas and businesses. It's truly a win-win."