Taste Radio

BevNET’s director of community Melissa Traverse joined Taste Radio hosts Ray Latif and Jacqui Brugliera for a discussion about a new source for valuable industry info, ways that our team can connect with and highlight Expo West exhibitors and a high-profile CEO’s shocking exit. They also spoke about a hot brand’s big retail win, luscious limited-time offerings and had a frank chat about the Whole30 diet and intermittent fasting. Show notes: 0:36: Back On The ‘Cast. ‘Boys’ Brilliant Advice. Expo Plans Revealed. Green Juice, Black Coffee, No Dairy. – Ray praised the return of Melissa, who, along with Jacqui, shared insights gleaned from the first episode of ‘Community Call,’ before each discussed their preparation and planning for Expo West 2023 (send us your info!), including their social media and video content strategy at the event. Later, they reacted to the news that Miyoko’s founder Miyoko Shninner had been removed from her role as CEO of the alt-dairy company, shared their admiration for a fast-growing brand, their excitement about a TV-show themed ice cream and indulgent, LTO snack before they each described their current rituals for healthy eating. Brands in this episode: Belgian Boys, Miyoko’s, Omsom, Jeni’s, Honey Mama’s, Lattini, Pressed, Evolution Fresh, Suja, Trader Joe’s

According to a 2020 health survey conducted by the U.S. Centers for Disease Control and Prevention, 41.9% of Americans aged 20 and over are obese. It’s a frustrating statistic for public health officials whose advocacy for exercising more frequently and making better eating decisions can often fall on deaf ears. Those issues, however, are linked to the accessibility and affordability of healthy food and beverages. Yes, there are better-for-you options, but are they readily available at a reasonable cost to most consumers? That was a persistent question during Manna Tree’s second annual Global Health Forum, hosted earlier this month at the firm’s home base of Vail, Colorado. Founded on the belief that “the future of health, well-being and longevity is attainable through innovation in food,” Manna Tree invests in and actively partners with growth-stage companies, including Health-Ade, The New Primal, Urban Remedy, Gotham Greens, Verde Farms and Good Culture. Prior to attending the Global Health Forum, which featured presentations on metabolic health and how consumer behavior has shifted around the better-for-you segment, Taste Radio editor Ray Latif sat down with Manna Tree leaders Ross Iverson, Brent Drever and Steve Young for a trio conversations about the firm’s investment strategy and how it relates to getting healthy and affordable food into the shopping carts of more consumers.   We also discussed how entrepreneurs are faced with shifting expectations for bottom line and top line growth, their assessment of consumer confidence and spending, emerging food trends and ways that public institutions and private companies can align on common goals to positively impact global health. Show notes: 2:33: Ross Iverson, Co-Founder & Managing Partner, Manna Tree – The episode opens with Iverson, who briefly discussed how Manna Tree planned for the Global Health Forum before he spoke about how investors are assessing the strength of the U.S. economy amidst concerns of a recession, how the firm evaluates short- and long-term paths to profitability and why the firm is looking to make investments in food manufacturing. He also explained why Manna Tree is “super active” in the operations of its portfolio companies and how aligned groups of food and beverage brands might benefit by having a unified operating structure. 27:01: Brent Drever, Co-Founder & Managing Partner, Manna Tree – Drever spoke about the firm’s work with state governors and federal legislators to improve public health, their assessment of companies' efforts to reduce sugar in their products, taking into account a range of consumer views on taste and health concerns and how they evaluate kids’ packaged food and beverage brands. He also discussed Health-Ade’s discontinued Pop line and the company’s efforts to create new products for mainstream consumers and how he plans to navigate the show floor at Expo West 2023. 46:28: Steve Young, Managing Director, Manna Tree – Young discussed his long career in the food industry, including his work with General Mills where he helped shepherd the acquisition of Annie’s, why he believes that during a time of uncertainty “investors are not going to invest in the top line at the sake of the bottom line” and whether the era of billion-dollar food brands might be coming to an end. He also discussed the tailwind for local and artisanal brands, the duality of creating highly nutritious and affordable products and how vertically integrated companies factor into Manna Tree’s investment thesis. Brands in this episode: Health-Ade, The New Primal, Urban Remedy, Vital Farms, Gotham Greens, Verde Farms, Good Culture, AriZona, Bellisio Foods, Annie’s

Taste Radio’s hosts discussed the value of attending CPG-centric community events and BevNET’s new series of interactive open meetings that address common questions and current issues impacting food and beverage entrepreneurs. They also explained how Expo West 2023 exhibitors can best advise our editorial teams about their presence at the upcoming event, highlighted recent capital raises for two beverage brands and riffed on several new products and brand extensions from two Mexican-inspired food brands and a trio of innovative energy drinks, among several others. Show notes: 0:45: BevNET Day Is Feb. 31. Jacqui, The Californian. Not Even A Sliver Of Salsa. – Ray kicked off the episode by calling for a new holiday that celebrates numpties and lattes, John discussed the development and focus of BevNET’s new Community Call series and encouraged SoCal listeners to attend next week’s San Diego meetup before Jacqui shared sun-soaked directions to the WCB. They also directed Expo West-ers to upload information about their booths, Ray’s secret to staying healthy while on the road, Ithaca’s foray into salsa (one host was allotted a very small amount), a brand of plant-based milk concentrate, spicy candy and snacks and a line of energy drinks primed for the big time. Brands in this episode: Rishi, Roar Organic, The New Primal, Ithaca, Planut, Thirst Burster Drink, Machu Picchu Energy, Prime, Tamalitoz, Chuza, Pressed, Revol Greens, JAS, Drink Weird

When we first profiled The New Primal founder and CEO Jason Burke in 2018, his brand was just over five years old and known for its grass-fed, pasture-raised jerky snacks and better-for-you marinades. Since then, the company has expanded into a range of adjacent categories, including seasonings, dressings and condiments and established itself as a platform brand for low sugar products made with responsibly sourced ingredients.  That evolution caught the attention of Vail-based private equity firm Manna Tree, which describes itself as “committed to improving human health through nutrition,” and led The New Primal’s $15 million Series B round in 2021. The investment has helped the company expand distribution, launch new innovation and build out its sales and marketing teams. While The New Primal has a solid foundation on which to build, Burke’s vision of disrupting what he views as “a broken, toxic food system,” is faced with contemporary pressures of inflation and rising costs while simultaneously challenged by expectations for fast growth and profitability.  In an interview recorded during Manna Tree’s second annual Global Health Forum, Burke discussed the demands of building a modern food brand in the context of evolving consumer needs, why he advises founders to embrace reliable business practices and a cautious retail strategy and how high-profile exits have created unrealistic expectations for founders. He also stressed the importance of due diligence on potential investors and shared a moving story about his motivation to provide consumers with better food options. Show notes: 0:45: Jason Burke, Founder & CEO, The New Primal – Taste Radio editor Ray Latif met with Burke at Manna Tree HQ in Vail, Colorado where the entrepreneur spoke about the origins of The New Primal; the brand’s focus on real ingredients, low sugar and great taste; how packaging drives trial and why new entrepreneurs should be cautious about broad distribution. He also opined about the detrimental effects of slotting fees on emerging brands, why sound business fundamentals draw the attention of investors and how “the goalposts” have shifted when it comes to large CPG exits. Later, he discussed why the traditional system for building a food brand makes it unrealistic for companies to achieve profitability at an early stage, how founders can cement their role as company leaders and how the passing of his mother reinforced his desire to improve the quality of packaged food. Brands in this episode: The New Primal

In recent episodes of Taste Radio, entrepreneurs in the midst of raising capital have noted that investment firms are increasingly emphasizing profitability within their funding criteria. And they will point to a common thread among such companies: a foundation rooted in business fundamentals.  Supplying early-stage food and beverage entrepreneurs with the resources to learn the ropes and develop a sustainable, scalable business is a primary goal of The Hatchery Chicago, a non-profit food and beverage business incubator focused on the Chicagoland region.  Since its launch in 2016, The Hatchery has focused on supporting women, BIPOC and local founders with affordable commercial kitchen space, fundraising workshops and business coaching. It operates a 67,000 sq. ft. foot facility on the West Side of Chicago and is financially backed by organizations including The MacArthur Foundation and Walton Family Foundation, as well as major food companies Kellogg’s and Griffith Foods.  In this episode, Natalie Shmulik, The Hatchery Chicago’s chief strategy and incubation officer, spoke about the incubator’s origins and work with early-stage entrepreneurs, the most pressing needs and challenges facing small businesses and how she and her team are advising brands on scaling and investment. She also discussed the typical attributes of a company that has successfully scaled beyond The Hatchery and how high-profile strategic partners, including Pepsico and Mondelez International, are involved in its development. Show notes: 0:45: Natalie Shmulik, Chief Strategy & Incubation Officer, The Hatchery Chicago – Shmulik met with Taste Radio editor Ray Latif at the 2023 Winter Fancy Food Show in Las Vegas where they riffed on their alma mater Boston University, where she is an adjunct professor, before discussing the common traits and backgrounds shared by The Hatchery’s entrepreneurs and the types of businesses the incubator supports. She also explained why the organization advises clients to focus on building a sustainable business before seeking funding, ways to raise capital beyond private investment and how to plan a path to profitability. Later, Shmulik shared success stories of brands that have exited the incubator, goals for the next 12 months and her thoughts on a national network of incubators. Brands in this episode: Justice of the Pies, Taylor’s Tacos, ChiFresh Kitchen, Nufs

This week, the hosts discussed a range of topics including BevNET’s new partnership with CPG community Naturally San Diego, how Expo West 2023 exhibitors can amplify their presence at the upcoming trade show and MALK’s clever new ad campaign,  along with some recently launched products that piqued our interest: think pancake cereal and a neon green hot sauce. This episode also features the latest edition of The Maxi Minutes with investor Maxine Kozler Koven, who spoke about how founders can navigate an increasingly tighter market for private capital and the trend of angel investors passing on subsequent funding rounds. Show notes: 0:51: Elvis Is In The Building, We Need Your Number, What’s In Your Milk? – Ray kicked off the show with praise for the biopic “Elvis,” before the hosts chatted about why you should email – and not DM – Jacqui, a February meetup event at BevNET’s San Diego office and a CTA for Expo West exhibitors. They also discussed the duality of plant-based foods and beverages with long ingredient lists, Mike took a shot of hot sauce and made a public plea the founders of Belgian Boys and the hosts shared their thoughts on animal crackers, energy drinks and a mushroom-centric beverage brand. 19:52: The Maxi Minutes – Maxine Kozler Koven, the co-managing director of L.A.-based investment firm LDR Ventures shared on-the-ground insights about how angel and seed investors evaluate emerging brands and how entrepreneurs can best position themselves for funding success. Our discussion includes an examination of why many angel investors pass on brands’ subsequent funding rounds. Brands in this episode: Belgian Boys, RXBAR, MALK, Califia Farms, Reese’s, Mtn Dew, Dr. Pepper, Indo Coffee, Immorel, Moment, Wingman Smart Energy, Blake’s Hard Cider

Stephanie Izard, the founder of acclaimed restaurant The Girl and The Goat and a former winner of cooking competition TV show “Top Chef,” doesn’t spend much time thinking about food trends. Instead, a consistent focus on preparing delicious food and teaching others to do the same has been paramount to Izard’s success as a restaurateur and is at the core of her CPG brand, This Little Goat. Launched in 2016, the brand markets globally-inspired sauces, spices and crunches developed from recipes that Izard created in her restaurants. The products are designed to “make it easy for home chefs to create complex, interesting meals,” she explained. This Little Goat is carried by hundreds of independent and chain grocery stores nationwide, including The Fresh Market, Raley’s, Price Chopper. According to the company, the brand saw sales growth across all channels in 2022 and nearly doubled its revenue in natural retailers. In this episode, Izard spoke about the origins of This Little Goat, how taste and accessibility guide the brand’s thoughtful product and marketing strategy, why the company turned to self-manufacturing for its Chili Crunches and how she became more comfortable as the primary spokesperson for her restaurants and brand. Show notes: 0:45: Stephanie Izard, Founder, This Little Goat – Izard spoke with Taste Radio editor Ray Latif at the 2023 Winter Fancy Food Show in Las Vegas, where the chef was cooking up a storm at the brand’s booth and explained how green beans and fish sauce played into the creation of This Little Goat. She also discussed her role in the brand’s package design, why trends don’t influence new product development, how the company forecasts demand and why she tries to be involved in as many retail meetings as possible. Later, she spoke about how self-manufacturing gives the company flexibility to produce limited-time offerings and collaborations and shared her thoughts on challenges facing fine dining establishments. Brands in this episode: This Little Goat, Momofuku Goods, Fly By Jing

Wholly Veggie co-founders John Bonnell and David Gaucher knew their brand of plant-based frozen foods needed a new look. But when they saw the design firm’s proposed revamp, it was such a departure from the original version that it made them apprehensive and uncomfortable. And, as they told us, that's why it worked. Wholly Veggie, which debuted in its home market of Canada in 2017, now offers a range of vegan frozen entrees and snacks, including Thai curry, cauliflower wings and mozzarella-style sticks. Bonnell and Gaucher envisioned the brand as one that could attract interest and democratize access to plant-based foods via familiar flavors and dishes. In 2020, Target began carrying Wholly Veggie at all of its U.S. stores and the brand seemed on its way to becoming a household name. Nevertheless, Bonnell and Gaucher sensed that it could just as easily turn into an also-ran in an increasingly saturated market for plant-based frozen meals. Wholly Veggie had to be bold, differentiated and, most importantly, stand for something beyond the food itself. In its fun, energetic and bright redesign, Wholly Veggie has been embraced by existing and new retailers. The brand is carried by 6,500 stores across the U.S. and Canada, including Walmart, Whole Foods, Sprouts, Fresh Thyme, Wegmans, Sobeys and Loblaws. In this episode, Bonnell and Gaucher spoke about their process for creating a plant-based brand with broad appeal, their realization that Wholly Veggie’s package design needed an overhaul, how a comprehensive brand brief enabled them to better understand their products’ value to retailers and consumers, and the impact of the brand revamp. They also discussed their adherence to business fundamentals, a challenging environment for private capital and how the most commonly consumed ingredients factor into their innovation strategy. Show notes: 0:45: John Bonnell & David Gaucher, Co-Founders, Wholly Veggie – Bonnell and Gaucher met with Taste Radio editor Ray Latif at BevNET headquarters where the entrepreneurs chatted about traveling from Toronto to Boston and local store visits before they discussed Wholly Veggie’s most recent – and hilarious – ad campaign. They also spoke about their respective backgrounds and the brand’s origins, why the brand name was the only thing not on the table during the revamp process, how they evaluate taste as compared to other plant-based products and how fun and laughter supports their primary goal of championing vegetables. Later, they discussed early mistakes and what they learned from each, their warning that “the route to market is filled with booby traps” and how conversations with investors have changed over the years.  Brands in this episode: Wholly Veggie, Green Giant, Birds Eye

Fresh off the conclusion of the 2023 Winter Fancy Food Show, Taste Radio editor Ray Latif highlighted new, innovative and better-for-you products from over a dozen exhibitors at the annual event, including a plant-centric soup brand, spicy and chewy candy, sunflower seed-based milk, non-alcoholic wine alternatives and gourmet marshmallows. Show notes: 0:40: Nate & The New Studio, Hot Crackers, No Compromise, Dad Dokes – The episode opens with John, Mike and Ray cozying up in BevNET’s new recording studio, before Ray shared his take on Las Vegas as the new home for the Winter Fancy Food Show and recounted an interview with a superstar chef at the event. Ray also shared spicy snacks with his studio mates and chatted with the episode’s hosts about news and new products from the show. Later, Jacqui and Mike chatted about a few new beverages shipped to their respective offices and Ray praised a convenient smoothie brand. Brands in this episode: This Little Goat, Nufs, Lattini, Bitchin’ Sauce, Petit Pot, Three Spirit, Everleaf, Chili Chews, I Eat My Greens, Soda Bossa, True Roots Brewing Co., Lentiful, Portland Salt Co., Mojave Mallows, Motto, Gorgie, Siren Shrub, Popadelics, Sweet Nothings

As a child, SmartSweets founder Tara Bosch used to eat candy for breakfast. As an adult, the entrepreneur is eating her competitors for lunch. Launched in 2016, Bosch created SmartSweets as an alternative to the vast majority of legacy candy brands whose products are made with high amounts of sugar and often include artificial colors and flavors. The Canadian entrepreneur was ambitious from the start, envisioning the company as a global player in the multi-billion dollar confectionary industry.  Leading with a message of “Kick Sugar, Keep Candy,” the brand markets a range of low-sugar candy in familiar formats, including gummies, licorice, sour snacks, lollipops and caramels. Primarily sweetened with allulose, a naturally occurring sweetener that is found in foods like raisins and figs, the products typically contain 1-3g of sugar per bag or serving size. Within four years of its debut, SmartSweets was carried by over 25,000 stores in North America, including Target, Kroger, Walmart and Whole Foods and generating $100 million in annual sales. The remarkable growth drew the attention of private equity firm TPG Capital in 2020, which acquired a majority stake in the company for $360 million. In this episode, Bosch spoke about her emphasis on great taste as a way to distinguish SmartSweets from both similarly positioned and traditional candy brands, how prioritizing a lean business model in its early development enabled the company to be nimble and outpace its competitors, why its growth strategy is built around “patient urgency” and how the brand’s highly effective social media strategy drove consumers to its retailers. Show notes: 0:45: Tara Bosch, Founder, SmartSweets – Taste Radio editor Ray Latif spoke with Tara Bosch about her homebase of Vancouver, why she accepted a Thiel fellowship in lieu of a college degree, how she addressed the stigma of bad taste in low-sugar candy and why she envisioned SmartSweets as a brand with broad appeal. She also explained the value of first mover advantage and having very specific annual objectives, building a team of generalists and the “radical focus” driving SmartSweets social media strategy. Brands in this episode: SmartSweets, Snickers