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28 October 2024

Daily Newsletter

28 October 2024

Donut brand Drumroll secures investment from 7 Mile Brands 

The brand was co-founded by Hassan Safieddine and Ryan Brothers in 2019, and counts 4th and 1 Ventures and Mu Ventures as other investors.  

Shivam Mishra October 28 2024

Drumroll, a US-based donut company known for its “low-sugar, high-protein” offerings, has secured a $3m investment from consumer packaged goods brand incubator 7 Mile Brands.  

The investment is aimed at fuelling Drumroll's expansion and meeting the increasing demand for healthier snacking options. 

Co-founded by Hassan Safieddine and Ryan Brothers in 2019, Drumroll offers baked donuts in three flavours: chocolate, vanilla and strawberry.  

According to the company’s website, a 75g serving contains 1g of sugar, 10g of protein, 8g of net carbs and 190 calories.  

Its products are aimed at health-conscious consumers looking for “low sugar and gluten-free” snack options.  

Drumroll's products are currently available nationwide in the refrigerated section of select retailers, including Target, Kroger, Wegmans, HEB, Albertsons and Shoprite

7 Mile Brands was founded in 2023 by Jason Cohen and Sammy Kestenbaum. Its portfolio of snack brands include Pretzelized and now Drumroll.  

Drumroll's other backers include 4th and 1 Ventures and Mu Ventures.  

7 Mile Brands co-founder and CEO Cohen said: “At 7 Mile Brands, we seek out disruptive brands that are poised to transform their category, and Drumroll is exactly that.  

“With the rise of health-conscious consumers seeking more mindful indulgence, Drumroll's unique approach to balancing taste and nutrition perfectly aligns with current market trends in the refrigerated snacks segment. This investment will fuel their expansion and amplify their impact in the industry.”  

Drumroll co-founder Brothers said: “We are thrilled to be partnering with the 7 Mile Brands family and to welcome Jason and Sammy to our board. Their track record of scaling brands is exceptional, and we are confident their expertise will help us drive innovation and guide the brand into the next chapter of growth.  

“Together, we are excited to turn Drumroll into an everyday snacking platform that reinvents the nostalgic treats we all loved growing up, while staying in tune with today's health-conscious lifestyles.” 

The investment in Drumroll builds on the interest this year in M&A in the bakery snacking category, particularly in the US.

Mondelez International, for instance, struck a majority deal in China for Evirth, a manufacturer of the French-style desserts mille crepe cakes, along with Swiss rolls, mooncakes and cookies.

And the US-based snacking and confectionery giant, via its venture capital arm, also took an interest in Urban Legend, a UK-based maker of better-for-you donuts.

APAC Consumer Health Overview

GlobalData's latest report brings together multiple data sources to provide a comprehensive overview of the Asia-Pacific consumer health industry, analyzing data from 26 countries in the region. Per our analysis, APAC region was the second-largest market in the industry in 2023, with value sales of $124.8 billion, and is forecast to record an increase in volume (million liters) during 2023–28, at a CAGR of 3.9%. The APAC consumer health industry was fragmented in 2023, with the top five companies accounting for a collective value share of ~10%, led by Amway.

APAC Consumer Health Overview

GlobalData's latest report brings together multiple data sources to provide a comprehensive overview of the Asia-Pacific consumer health industry, analyzing data from 26 countries in the region. Per our analysis, APAC region was the second-largest market in the industry in 2023, with value sales of $124.8 billion, and is forecast to record an increase in volume (million liters) during 2023–28, at a CAGR of 3.9%. The APAC consumer health industry was fragmented in 2023, with the top five companies accounting for a collective value share of ~10%, led by Amway.

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