Founder Elizabeth Stein sells Purely Elizabeth to Ferrero for over $800 million

Seventeen years after baking superfood muffins in her Upper West Side apartment, Elizabeth Stein built Purely Elizabeth into a national brand offering around 40 granola, oatmeal and cereal products. After early growth through Whole Foods, Target and Walmart, the company secured a $3 million Series A from General Mills’ venture arm and later a $50 million Series B led by Fresh Del Monte Produce, reaching roughly $150 million in annual sales by 2024.

Ferrero, the family-owned maker of Nutella and Kinder, agreed to acquire the business for a sum Forbes puts at over $800 million, valuing the firm at just over three times sales. Stein will remain CEO, aiming to preserve the brand’s ingredient standards while leveraging Ferrero’s global reach. She highlighted the transaction as proof that female founders can both raise capital and retain leadership through a major exit.