Ferrero Group agreement to acquire Purely Elizabeth

Ferrero Group has signed an agreement to acquire Purely Elizabeth from founder Elizabeth Stein, SEMCAP Food & Nutrition and Swander Pace Capital.

You can read Ferrero's announcement here: Read

Purely Elizabeth is a high-growth better-for-you food company and modern wellness brand. Founded in 2009 and based in Boulder, Colorado, the brand has more than quadrupled sales in the last five years, driven by its portfolio of granola, oatmeal and cereals, alongside more recent expansion into snacking and protein.

SEMCAP Food & Nutrition and Swander Pace Capital partnered with Purely Elizabeth in 2021. Since then, they have supported investments in product innovation, sales and marketing, and operational infrastructure as the business continued to scale. Purely Elizabeth will continue to operate as a standalone brand within Ferrero Group, with Founder and CEO Elizabeth Stein continuing in her role alongside the existing leadership team.

"Purely Elizabeth is exactly the kind of brand SEMCAP Food & Nutrition was built to support: deeply consumer-led, values-driven and shaping what's next in better-for-you food," said John Haugen, Managing Partner, SEMCAP Food & Nutrition. "Elizabeth and her team have built a remarkable business with a clear point of view, strong consumer trust and significant momentum. Since our investment, it has been a privilege to support the company, alongside Swander Pace, as it has scaled its platform, expanded its product portfolio and strengthened its position in the category. We are excited to see Purely Elizabeth continue its next chapter with Ferrero."

The proposed transaction is expected to close in the coming months, subject to customary closing conditions and regulatory approvals.