Live Episode! Angie's BOOMCHICKAPOP: Angie & Dan Bastian (2019)
Feb 21, 2022
01:03:38
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Quick takeaways
Started small, grew big: Angie & Dan aimed for modest savings, but their kettle corn venture evolved into a $250 million acquisition.
Innovative flavors & trends: BOOMCHICKAPOP expanded beyond kettle corn, embracing gluten-free options and appealing to broader audiences.
Partnerships fuel growth: Collaborations and investments propelled business scalability, leading to strategic acquisitions and market dominance.
Deep dives
Facing Financial Challenges and Growth Opportunities
The founders faced financial struggles initially, relying on credit cards and loans to sustain their kettle corn business. Despite challenges, growth opportunities emerged as they secured a loan and gradually expanded their operations.
Expanding Product Range and Targeting New Markets
To diversify their offerings beyond kettle corn, the founders introduced new flavors like salted and buttered popcorn. They tapped into the gluten-free trend, attracting a broader customer base and expanding their market reach.
Navigating Partnerships and Financial Investments
Strategic partnerships and investments, including a collaboration with a larger private equity firm, enabled the business to scale up and enhance its operations. These alliances brought financial stability and facilitated business growth.
Rebranding for Market Appeal and Success
A pivotal rebranding effort led to the transformation of their brand, Ance's Kettle Corn, into Boom Chicka Pop. The shift improved market positioning, resonated with consumers, and ultimately became the top seller, reflecting a successful branding strategy.
Navigating the Acquisition and Financial Rewards
Following subsequent acquisitions by investment firms, the founders experienced significant financial gains and business success. Strategic acquisitions by larger companies like Conagra Foods further propelled their brand's growth and market presence.
Angie and Dan Bastian weren't trying to disrupt an industry or build a massive company, they just wanted to put aside some money for their kids' college fund. In 2001, Dan stumbled across an internet ad touting kettle corn as a lucrative side-business, so he and Angie decided to take the plunge, investing $10,000 in equipment. At first, they popped kettle corn in front of local supermarkets in the Twin Cities and at Minnesota Vikings games. Eventually, they moved indoors to Trader Joe's, Target, and Costco—and got a crash course in how to run a business along the way. Angie's Kettle Corn eventually took on a bold new name: BOOMCHICKAPOP. And in 2017, the company was acquired for a reported $250 million.
This show was recorded live at Ordway Concert Hall in St. Paul, Minnesota in July 2019.