Kellogg Co. in June joined the ranks of big food companies with venture capital arms, unveiling "eighteen94 capital" (1894 for short) to make minority investments in companies pursuing next-generation innovation.
The company has earmarked $100 million to invest in start-up businesses pioneering new ingredients, foods, packaging, and enabling technology.
"As consumer preferences move toward more diverse tastes and trends, the pace of innovation in the packaged food industry continues to intensify," said Vice Chairman Gary Pilnick. "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.
