1894 intends to invest approximately $100 million. As a result, it will play an important role in achieving Kellogg's 2020 strategic growth objectives. 1894 will invest in emerging businesses in both Kellogg's core categories and adjacent categories, and in companies that have developed new consumer-driven technologies that could lead to long-term, mutual growth opportunities. While stage-agnostic, the fund will emphasize early stage opportunities with companies that have demonstrated good product and market fit and have generated initial revenue.
1894 will be managed by Simon Burton, managing director, a 10-year executive at Kellogg who also has extensive investment experience in the Consumer Products sector and with start-ups. In addition, Kellogg has partnered with Touchdown Ventures, which specializes in corporate venture capital, to assist with management of the fund.
"We want to help take our partners' innovative spirit and passion as far as they can go," said Burton. "We want to help create the ideal conditions for growth; that's why we believe that 1894 will become the destination for ideas."
For more information about eighteen94 capital, please visit www.1894capital.com.
About Kellogg Company
At Kellogg Company (NYSE: K), we strive to make foods people love. This includes our beloved brands – Kellogg's®, Keebler®, Special K®, Pringles®, Kellogg's Frosted Flakes®, Pop-Tarts®, Kellogg's Corn Flakes®, Rice Krispies®, Cheez-It®, Eggo®, Mini-Wheats® and more – that nourish families so they can flourish and thrive. With 2015 sales of $13.5 billion and more than 1,600 foods, Kellogg is the world's leading cereal company; second largest producer of cookies, crackers and savory snacks; and a leading North American frozen foods company. Through our Breakfasts for Better Days™ global hunger initiative, we've provided more than 1.4 billion servings of cereal and snacks to children and families in need around the world. To learn more, visit www.kelloggcompany.com or follow us on Twitter @KelloggCompany, YouTube and on Social K.