General Mills has made its first step into the pet supplement category with the acquisition of Fera Pets. This represents the company’s first acquisition by its newly launched growth equity fund.
General Mills, Inc. announced the acquisition of 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 its first acquisition by its newly launched growth equity fund.
As the pet food trend towards humanization continues, pet parents are increasingly demanding 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 wellbeing 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, vice president of Disruptive Growth at 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’ disruptive 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 Dr. Michelle Dulake, veterinarian and co-founder of Fera Pets, Inc. “Fera Pets, Inc. was created after recognising a lack of transparency in the pet supplement category and a gap in the market for a holistic approach to our pets’ wellbeing. 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 leveraging 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 of 301 INC, which sources opportunities for the growth equity fund. “Cofounders 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.”
Gold Medal Ventures is focused on macro-opportunity areas in the food value chain that are ripe for disruption. 301 INC’s recent investments include precision pollination startup BeeHero, direct-to-consumer cat food brand Smalls, and dog location and activity monitor brand PitPat. G-Works test-and-learn launches include blood sugar-friendly snack brand Good Measure and lower net carb pasta brand Carbe Diem.
