The investment — a combination of equity and loans — is designed to help the New York City-based company ramp up its operations, expand its product lines, and drive the organizations' shared vision of making healthy high-quality food for young children more affordable for families. The company's products are packaged in lower-cost, eco-friendly, and preservative-free pouches and are sold in thirteen thousand stores nationwide.
The Kellogg Foundation has allocated $100 million for investing in businesses around the globe that are aligned with its mission of improving the lives of vulnerable children and families. The foundation seeks market-rate returns across a variety of asset classes that preserve and increase its endowment for the ongoing support of families and communities.
"It has been phenomenal to have the support of the Kellogg Foundation, which shares a socially minded agenda that includes creating better health outcomes for children and families," said Happy Family founder and CEO Shazi Visram. "The foundation's support has enabled us to maintain control over the company's idea of success and make decisions that we're proud of."