[20 June/CNBC]

General Mills’ venture arm, 301 Inc, invested in the parent company of GoodBelly Probiotics.  GoodBelly was known for its probiotic juices and shots but had been looking to expand into new products such as bars. General Mills could help with its product expansion, by utilising its expertise from managing brands such as Nature Valley Bars and Annie’s Homegrown Snacks. General Mills creates its venture arm in an effort to keep close to the ground on new products due to many of its legacy brands falling out of favour with the current health focused generation.