Elizabeth Stein’s first product was a muffin. In 2008 she was a nutrition counselor with ten clients, and she brought blueberry muffins made with quinoa, chia and coconut sugar to a triathlon in Westchester. People asked about the muffins more than her consulting. On August 14, 2026, the family company behind Nutella agreed to buy what she built from them. “Building Purely Elizabeth from an idea 17 years ago into the brand it is today” has been one of the most rewarding experiences of her life, she said in the announcement, quoted by Pulse 2.0.
At a glance
| Brand | Purely Elizabeth, Boulder, Colorado, founded 2009 |
| Founder | Elizabeth Stein, Founder and CEO |
| Buyer | Ferrero Group |
| Price | Not disclosed; Forbes estimates more than $850 million |
| Revenue | About $250 million, trailing twelve months (Forbes estimate) |
| Founder’s stake | About two-thirds, per Forbes |
| Founder’s role after | Stays CEO; brand runs standalone |
A muffin mix, then granola
The detailed origin story comes from Forbes, in the edition Forbes Chile published on August 18. In 2009 Stein put $5,000 of savings into ingredients and a website and sold muffin mixes made in her Upper West Side apartment. A mention in the DailyCandy newsletter brought $10,000 of orders in three hours on day one.
The product that lasted came in 2011. Her mother, Nancy, loved a granola recipe, Stein launched it, and Nancy phoned buyers until about 40 Whole Foods stores in the mid-Atlantic carried it. Revenue reached $200,000 by the end of that year. Within two years Whole Foods carried the brand in six regions and revenue hit $1 million; the next year it went national. Stein moved the company to Boulder in 2014, Walmart added it in 2017, and by the end of 2024 it was a profitable business with about $150 million in revenue, per Forbes.
Outside money came late and in modest amounts: a $3 million Series A led by General Mills’ venture arm in 2017 and a $50 million Series B about five years later, with Fresh Del Monte Produce participating. That is part of why, at the sale, Forbes reports Stein still owned about two-thirds of the company.
The deal
Ferrero’s announcement says Purely Elizabeth will operate as a standalone brand, that Stein stays as Founder and CEO with her management team, and that sales have more than doubled over the past two years, per Pulse 2.0 and New Hope Network. It follows Ferrero’s 2025 purchase of WK Kellogg Co. “Purely Elizabeth, with its terrific portfolio of quality, tasty products, is a great addition to Ferrero,” said Giovanni Ferrero, president of Ferrero International.
Terms were not disclosed. Forbes estimates Ferrero will pay more than $850 million, over four times estimated trailing revenue of $250 million, and that Stein will net about $400 million after tax. Stein declined to comment on terms, per Forbes. These are estimates, not company figures.
If the estimates hold, Stein turned $5,000 of savings into a stake worth roughly $560 million before tax, about two-thirds of $850 million. That is our arithmetic on Forbes’ figures, not a disclosed number.
What founders can take from it
- Pivot toward what customers ask for. The muffin got her started; the granola her mother loved built the company.
- Raise late and little if you can. Two modest rounds left the founder with about two-thirds at exit.
- The buyer’s time horizon matters. Stein chose a family-owned company. Ferrero’s own announcement promises to keep the brand standalone, with its founder in charge.
Related founders
- Daniel Patiño Bought Salad and Go Back for $180,000: another food founder and an ownership story with a very different ending.
- Lucy Aylen Sold Control of Her Brand. She Kept the Top Job.: a founder selling and staying in charge.
- Nima Jalali Sold Control of Salt & Stone. He Kept the Job.: a consumer founder who sold control in 2026 and stayed.
Sourcing: the August 14, 2026 announcement, standalone structure, Stein’s continuing role, sales doubling, the WK Kellogg context and the Ferrero and Stein quotes are per Ferrero’s release as carried by Pulse 2.0 (August 15) and New Hope Network (August 24). The $850 million and $250 million estimates, Stein’s two-thirds stake, the $400 million after-tax estimate and the founding history (2008 triathlon, $5,000, DailyCandy orders, 2011 granola, Whole Foods rollout, revenue milestones, Boulder move, Walmart, funding rounds) are per Forbes, read in Forbes Chile’s Spanish edition of August 18, 2026; we did not open the English original. New Hope reports the same price and revenue figures citing Entrepreneur. The implied stake value is our arithmetic. No portrait is used.
Frequently asked
Who bought Purely Elizabeth?
Ferrero Group, the family-owned company behind Nutella and Kinder, signed an agreement on August 14, 2026 to acquire Purely Elizabeth. Closing was expected in the following months, subject to regulatory approvals. The brand will operate as a standalone business within Ferrero.
How much did Ferrero pay for Purely Elizabeth?
Ferrero did not disclose terms. Forbes estimates more than $850 million, over four times an estimated $250 million of trailing twelve-month revenue, per Forbes Chile's edition of the story. New Hope Network reported the same $850 million and $250 million figures citing Entrepreneur. Treat them as estimates.
Is Elizabeth Stein still CEO of Purely Elizabeth?
Yes. Ferrero's announcement, as reported by Pulse 2.0 and New Hope Network, says Stein remains Founder and CEO and will keep leading the company with its existing management team.
How did Purely Elizabeth start?
Elizabeth Stein, a holistic nutrition counselor, baked muffins with quinoa, chia and coconut sugar for a triathlon in 2008. In 2009 she spent $5,000 of savings on ingredients and a website to sell muffin mixes from her Upper West Side apartment, per Forbes. Granola followed in 2011 and became the core business.
