Daniel Katz is a 20-year-old Cincinnati native who created a protein-packed snack brand that’s generating nearly $10 million in annual revenue after just two years of business. And General Mills likes the brand so much it has become a financial backer.
On Tuesday, the healthy snacking startup D’s Naturals will announce it has received a “significant” investment from private-equity firm 2x Consumer Products Growth Partners and 301 Inc., which is the venture capital arm of cereal maker General Mills (GIS, -2.33%). Terms of the investment, which was led by 2x Partners, weren’t disclosed.
