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Annie's Homegrown

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Annie's Inc.
Company typeSubsidiary
IndustryOrganic products
Founded1989; 35 years ago (1989)
FounderAnnie Withey
HeadquartersBerkeley, California
Key people
Annie Withey
ProductsMacaroni and cheese, salad dressing, crackers, fruit snacks, snack mix, frozen pizza bites, breakfast cereal, cheese puffs, snack bars graham crackers, barbecue sauce, mustard, ketchup
OwnerGeneral Mills
Websitewww.annies.com Edit this at Wikidata

Annie's Homegrown (or simply Annie's) is an American organic food company owned by General Mills. The company was founded in Hampton, Connecticut, by Annie Withey and Andrew Martin, who previously founded Smartfood popcorn along with Ken Meyers. It is best known for its macaroni and cheese product line, which comes in shell form and bunny rabbit shapes, and is the second best selling macaroni and cheese in the United States behind Kraft.[1] Their mascot is a rabbit named Bernie, who appears in the seal of approval called the "Rabbit of Approval". The company also produces Annie's Naturals, which consists of condiments, dressings, and barbecue sauces.

History

Annie Withey[2] co-founded Annie's Homegrown with Andrew Martin in 1989. Initially, the company only sold "natural" macaroni and cheese, in New England supermarkets.

In 1995, Annie's completed a direct public offering that raised $1.3 million.[3]

In 1999, John Foraker, an owner of Homegrown Natural Foods, which made flavored olive oils and mustards, and his company invested $2 million in Annie's.[3] An agreement was reached that would buy out Withey and Martin's shares in the company and make Annie's a private company.[3] Withey became Annie's "inspirational president", and the company began distributing its products to chains like Costco, Kroger, and Safeway.[3]

In 2002, Solera Capital became the majority investor in the company with $23 million. They also added Foraker's company Homegrown Naturals (including brands Consorzio and Fantastic Foods) to the business, and moved Annie's headquarters from Boston to Napa, California, in 2004. Later in 2011, Annie's headquarters relocated from Napa to Berkeley, California.[3]

In 2005, the company bought out Annie's Naturals, a (sometimes) organic salad dressing and condiment company founded by Annie Christopher of North Calais, Vermont.[3]

In January 2012, Annie's announced the introduction of a certified organic rising crust frozen pizza line. Annie's certified organic pizza line is exclusive to Whole Foods Market.[citation needed]

On April 3, 2014, Annie's opened their first bakery manufacturing plant, purchased from Safeway Inc. for $7.4 million and located in Joplin, Missouri.[4]

Becoming a publicly traded company

The majority of stock of Annie's was owned by Solera Capital, LLC.[1] In December 2011, Annie's filed with the SEC to raise up to $100 million in an initial public offering.[5]

Acquisition

General Mills bought Annie's on 8 September 2014 for $820 million.[6]

See also

References

  1. ^ a b "Annie's Homegrown, Inc". fundinguniverse.com. Retrieved 2009-04-13.
  2. ^ "Annie's Founder: Still Farming, Annie's Founder Stays Close To Roots As Company Wows Wall Street - Hartford Courant". Articles.courant.com. 2012-07-25. Retrieved 2014-03-23.
  3. ^ a b c d e f Casserly, Meghan (October 28, 2013). "The Homegrown Success (And Mild Indigestion) Of Annie's Natural Foods". Forbes.
  4. ^ Kennedy, Wally. "Annie's Homegrown lauds addition of Joplin bakery". Joplin Globe. Retrieved 2018-01-30.
  5. ^ "Annie's Announces Filing of Registration Statement for Proposed Initial Public Offering". Annie's. 5 December 2011. Archived from the original on January 9, 2012.
  6. ^ General Mills buys Annie's for $820 million
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