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

Read Ferrero’s announcement here: https://www.ferrero.com/int/en/news-stories/news/ferrero-group-to-acquire-purely-elizabeth

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.

“It was a pleasure to work alongside Elizabeth and her team. Their hard work, dedication, and vision enabled Purely Elizabeth to become one of the fastest-growing brands in the category.” said Andrew Richards, Managing Director and CEO, Swander Pace Capital. “SPC has spent three decades backing founders and families, and our partnership with Elizabeth and her team is a terrific example of what that model can produce. We are confident that Purely Elizabeth will continue to deliver for consumers under Ferrero’s ownership for many years to come.”

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