Taste Radio

BevNET Inc.
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Apr 6, 2021 • 54min

Set The ‘Bar’ And Investors Will Find You. Just Ask Ryan Close.

During the most challenging moments in his company’s development, Ryan Close, the founder and CEO of Bartesian, a maker of innovative counter-top machines that produce premium cocktails on demand, would repeat the same mantra: “Let’s move this thing yard by yard, look up every few yards and see where we are.” Seven years after its debut, Bartesian is now galloping in full stride.  The fast-growing company generated a 975% increase in revenue in 2020 amid a pandemic that saw a boom in at-home drinking occasions and came on the heels of the brand’s inclusion in Oprah Winfrey’s acclaimed Favorite Things of 2019 list. Following its breakout year, Bartesian today announced the completion of a $20 million Series A funding round led by venture capital firm Cleveland Avenue and that actress Mila Kunis has joined the company’s advisory board.  Similar to a Keurig coffee machine, Bartesian uses capsules that contain pre-blended liquid mixers. At the push of a button, the machine blends the mixers with base spirits that are preloaded into the unit to create a variety of high quality cocktails. According to Close, the company has hundreds of thousands of customers that have purchased the machine and buy its capsules on a regular basis. Bartesian is backed by several high-profile investment partners, including Chicago Cubs chairman Tom Ricketts and spirits conglomerate Beam Suntory, along with Cleveland Avenue, all participating in a 2019 funding round that raised $6 million. In an interview included in this episode, Close spoke about how he identified the potential for an automated cocktail machine, mapping out a strategy that encompasses appliance technology, mixology and marketing, identifying the most important attributes of the brand and why he says that he’s not trying to put bars out of business.   0:45: Shroomin’ On A Friday Afternoon. Plus, Expo West Galleries (Sans Expo). -- The podcast’s hosts riffed on recent photo galleries on BevNET and NOSH that featured dozens of new products introduced over the past month, discussed a boom in mushroom-centric brands and highlighted several snacks and drinks that they munched and sipped on over the past couple weeks. 23:02: Interview: Ryan Close, Founder/CEO, Bartesian -- Close spoke with Taste Radio editor Ray Latif about what inspired him to launch Bartesian, why overconfidence was helpful early on, why B2B sales were key to the company’s initial funding strategy and the partnership that provided critical working capital during its first few years. He also discussed how the deal with Beam Suntory came together, how Bartesian communicates long-term value to its customers, how he assesses opportunities to scale and why he views competition as important to the company’s growth. Brands in this episode: Recess, Honest Tea, Eat The Change, Beyond Meat, Earth & Star, Pan’s Mushroom Jerky, Shroomi, Shroom Shot, Four Sigmatic, Riff, GoodSport, Casamera Club, CANN, Local Roots, Elenita, Cafe Spice, Bohana, Lundberg Family Farms, Ithaca Hummus, Hendrick’s Gin, Amass Spirits, Sound Sparkling, Jim Beam, Maker’s Mark
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Mar 30, 2021 • 1h 13min

Mason Dixie’s Founder Is The American Dream. And She’s Changing Baking Forever.

Ayeshah Abuelhiga’s initial concept for Mason Dixie Foods was a restaurant chain inspired by Southern cuisine. The bigger opportunity, however, turned out to be a packaged brand of better-for-you frozen biscuits. Seven years since its debut, Mason Dixie, which also markets clean ingredient scones, rolls and soon-to-be-launched breakfast sandwiches, has sold millions of baked goods. Perhaps more importantly, the company has gained a foothold in a legacy food category and provided Abuelhiga with the social capital to call out antiquated ways of doing business in the baking industry.  A former product manager with Audi, Abuelhiga has positioned Mason Dixie as “the modern face of Southern food.” The brand is carried in over 5,000 stores across the U.S., including , Target, Publix, Kroger, Costco and all Whole Foods Market locations. Last year, Mason Dixie raised $6.3 million in a Series A round that was primarily led by female investors, and Abuelhiga expects the company to be profitable by the end of 2021. Along with continued growth of the brand, she now has her sights set on revolutionizing the U.S. baking industry and dismantling the outdated traditions upon which it was built, a point she discussed in detail as part of our conversation.   Abuelhiga also spoke about how the combination of her personal history in the food business along with the impact of bias and inequality in her career prompted her foray into entrepreneurship, the spark that spurred the launch of a packaged food brand and how she prepared for and managed meteoric growth. She explained what is needed to create transformational change in baking and how the company is following up a major rebrand with an infusion of socially responsible messaging. Show notes:  0:40: Interview: Ayeshah Abuelhiga, Founder/CEO, Mason Dixie Foods -- Abuelhiga sat down with Taste Radio editor Ray Latif and spoke about baking at home during the pandemic, the reason behind naming the company Mason Dixie, growing up as a daughter of immigrant parents and restaurant owners and why she was drawn to the foodservice industry during college. She also discussed how the frustration of being passed over for promotion four times while working at Audi led her to open a restaurant, how a novel Kickstarter campaign was hugely successful in helping launch Mason Dixie and how overwhelming demand opened the door to a consumer brand. Later, Abuelhiga spoke about a cold call that helped the brand scale its baking operation, expanding distribution beyond the natural channel, why she’s frustrated with the way the baking industry communicates internally and to consumers and how she vetted investors for the company's Series A round. Brands in this episode: Mason Dixie Foods, King Arthur Flour, Brodo, Pillsbury, Simple Mills, Vital Farms, Annie’s, Vitaminwater, Kind Snacks, Pederson Farms
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Mar 23, 2021 • 55min

Twist, Shake, Disrupt. How DRNXMYTH Is Redefining A Category.

This week, we’re joined by Brandon Schwartz and Lawrence Cisneros, the co-founders of DRNXMYTH, a brand of ready-to-pour fresh cocktails whose proprietary bottle and ultra-high quality ingredients have made its products among the most unique -- and sought after -- offerings in the spirits industry. Amid a rapidly expanding market for ready-to-drink cocktails, DRNXMYTH has differentiated itself via an innovative package that keeps the spirit and a cold-pressed juice-based mixer separate until the time of consumption. A twist of the bottle and a quick shake and the result is a fresh craft cocktail. DRNXMYTH made its official debut in early 2020 and has since built a strong direct-to-consumer business among cocktail enthusiasts thirsting for high-quality offerings at a time when most bars around the country were shuttered.  In an interview included in this episode, Schwartz and Cisneros spoke about the origins of the brand and how they navigated a complex web of alcohol regulation, supplier partnerships and packaging technology to achieve their vision for the products. They also discussed how the pandemic impacted their go to market strategy and how they surrounded themselves with investors that understood the impact of technology within an emerging category. Show notes:  0:52: Remembering A Legend. Ray’s New Love. And, A Spirited Chat About New Products. -- The episode opened with a chat about Jacqui’s passion for Gaelic football, high school athletic endeavors and a few updates to Taste Radio. The hosts also shared remembrances of industry icon and Odwalla and Califia Farms founder Greg Steltenpohl, who passed away earlier this month. Later, they spoke about a new line of indulgent ice cream bars, buzzy cocktails and Spindrift’s foray into hard seltzer. 20:44: Interview: Brandon Schwartz & Lawrence Cisneros, Co-Founders, DRNXMYTH -- BevNET CEO John Craven sat down with Schwartz and Cisneros, who discussed their backgrounds in law and consumer products, the inspiration for the brand and how they identified white space for a super-premium bottle cocktail. They also discussed the lengthy timeline for developing DRNXMYTH’s bottle and operational strategy, convincing investors to buy into the concept before the package was commercially ready and why they aligned with bartenders and mixologists to create the recipes for and market the cocktails. Later, Schwartz and Cisneros talked about their innovation strategy and how they crafted a consumer experience, building DRNXMYTH’s direct-to-consumer platform and how investors perceive the opportunity for ready-to-drink cocktails. Brands in this episode: DRNXMYTH, Califia Farms, Odwalla, Nutpods, Kokomio, Van Leeuwen Ice Cream, Leilo, Deloce, Bomani, Intent Beverage, Mindright, Spirit & Co., Spindrift, Suja, Evolution Fresh
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Mar 16, 2021 • 39min

After A $419M Exit, Manitoba Harvest’s Mike Fata Has Something ‘Bigger’ On His Mind

Mike Fata’s entrepreneurial journey began when he dropped out of high school. It culminated in the $419 million acquisition of the company he co-founded, global hemp foods producer Manitoba Harvest. Reflecting on his remarkable ascent, Fata mentions one regret: that he didn’t “dream bigger.” Launched in 1998, Manitoba Harvest, which is best known for its popular Hemp Hearts brand, has played a critical role in education about and mainstream adoption of hemp, beginning in its home market of Canada and later in the United States. Seventeen years after the company’s debut, Fata guided a majority sale of Manitoba Harvest at an enterprise value of $132 million. He helped lead a second sale of the company four years later when it was acquired by Canadian cannabis company Tilray for the aforementioned $419 million. Two nine-figure exits… not bad for someone who left school at age 13.  In the following interview, Fata spoke about how educating himself about nutrition and healthy living led him to hemp, overcoming government-led and generational disinformation about the crop, why he laments not seeing greater potential for the company early into its development and where he drew inspiration for confidence as a CEO. Show notes:  0:48: Interview: Mike Fata, Founder, Manitoba Harvest -- Taste Radio editor Ray Latif sat down with Fata and discussed the entrepreneur’s mentorship of brand founders on social media app Clubhouse, his path from bullied teen to health and hemp guru, the Canadian government’s role in the creation and launch of Manitoba Harvest and how the DEA stunted the company’s foray into the U.S. Fata also spoke about how people and organizations in the natural foods community helped him become a better leader, why he describes himself as “a born entrepreneur but a made CEO,” what Whole Foods taught him about team building, the retail partners that helped educate mainstream consumers about hemp and the importance of humility when bringing leaders to help scale the company. Later, he discussed his involvement as an investor in several fast growing food brands and how he advises entrepreneurs when it comes to navigating a crowded and competitive market for natural foods. Brands in this episode: Manitoba Harvest, Dr. Bronner’s, Stonyfield, Love Good Fats, OM Mushroom
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Mar 12, 2021 • 56min

First-Year Fortune -- How Bomani’s Founders Set Themselves Up For Success

On March 12, 2020, a hard coffee brand called Bomani Cold Buzz announced its official debut. The timing of the launch was seemingly unfortunate: one day prior, the Covid-19 pandemic upended American society and prompted lockdowns across the country. Yet while the months ahead were exceptionally challenging for most food and beverage startups, Bomani persevered. The brand landed distribution at over 1,000 retail stores including those of Total Wine, Stater Bros., Whole Foods and Gelson's, built a dynamic e-commerce business and secured a $3.5 million round of capital in December.  How, in a year of turmoil, did Bomani get off to a hot start? In an interview included in this episode, we spoke with co-founders Sam Madani, Amin Anjedani and Kai Drewry who explained how preparation, planning and purpose gave the company a foundation for success, why aggressive cold-calling was critical to finding the right suppliers and service providers, their thoughtful approach to surveys and focus groups and how they convinced investors and advisors to believe in their vision. Show notes:  0:44: Essentia’s Exit, How To Meet A Retail Buyer, Funding Wins And Bite-Sized Innovation -- The episode’s hosts discussed Nestle’s acquisition of premium alkaline water brand Essentia, BevNET’s upcoming Speed Dating event, which will pair brand founders with retailer buyers, recently announced seed rounds for nitro coffee and functional beverage brands and notable products sent to our office over the past week, including vegetable-based cakes, grain-free pizza bites and immunity-focused drinks.  20:07: Interview: Sam Madani, Amin Anjedani & Kai Drewry, Co-Founders, Bomani Cold Buzz -- The co-founders sat down with Taste Radio editor Ray Latif and spoke about how their background in investment banking led to the creation of Bomani, effective networking and how to choose the right partners and advice. They also discussed consumer reception to the brand in its pre-launch phase, marketing that finds a balance between party culture and mature drinking and whether rapid growth was an intentional part of their strategy.   Brands in this episode: Bomani Cold Buzz, Essentia, Nitro Beverage Co., Cloud Water, Snow Days, NewGem Foods, Planet FWD, Veggies Made Great
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Mar 2, 2021 • 47min

The Skill That Helped This Pioneering Entrepreneur Build Plated Into A $300M Company… And Another In The Making

Laid back and longhaired, Nick Taranto is over a decade removed from his service as an officer in the Marine Corps, having enlisted after earning an MBA at Harvard Business School. In speaking with Taranto for an interview featured in this episode, it’s clear that, while he may not resemble the prototypical soldier or B-school grad, his experience at the two revered institutions have helped guide his career as an entrepreneur. Taranto communicates with purpose and has the air of a natural leader and creative thinker, someone who could excel on both the battlefield and the boardroom (although you get the sense that he might spell the latter b-o-r-e-d-r-o-o-m).  After leaving the Marines, Taranto co-founded pioneering meal kit company Plated in 2012 and sold to grocery chain Albertsons for $300 million just five years later. He explained that part of his success at Plated derived from his ability to connect and communicate with investors, retailers and consumers. It’s an important skill set, one that he carries into his latest venture, HOP WTR, a brand of non-alcoholic, hopped sparkling waters that are infused with adaptogens and nootropics. It’s a timely entry into the budding business of beer alternatives and one that, like many entrepreneurial companies, carries a personal meaning for Nick.  Within our conversation, we delved into Taranto’s life and career, including his reason for entering the military, how he managed Plated’s very complex business model, how to assess timing and opportunity and why storytelling is the key to any successful company. Show notes:  0:45: Interview: Nick Taranto, Co-Founder, Plated & HOP WTR -- Taranto sat down with Taste Radio editor Ray Latif for an expansive conversation that began with the entrepreneur’s thoughts on Bitcoin, the significant impact that 9/11 had on his life, comparing leadership skills he learned at Harvard Business School and in the Marines and why the latter discouraged “OFP.” He also explained how the 2008 recession affected the career paths for business school graduates, his unhappy stint at a high-profile investment bank, the origins of Plated and why he admits that turning a profit was not a priority for the company. Later he spoke about his decision to launch a beverage brand, the positioning of HOP WTR and why he’s bullish on sober-curious lifestyles. Brands in this episode: HOP WTR, Plated
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Feb 26, 2021 • 55min

Insider Ep. 112: The ‘Bitchin’ Way To Build An Iconic Brand? Don’t Blend In.

When discussing the unconventionality of her brand’s name and label design, Starr Edwards, the co-founder and CEO of Bitchin’ Sauce, a maker of vegan, almond-based dips, described herself as “the Bob Ross of branding.” There were “a lot of happy accidents,” she noted. Those playful mishaps provided the foundation for what is now one of the fastest-growing brands in its category. Launched in 2004, Bitchin’ Sauce emerged as a cult hit at farmers markets in Southern California as consumers embraced its unapologetically quirky labels and commitment to clean ingredient formulations. While the packaging and ingredients have essentially remained the same over the years, the brand’s retail footprint has grown dramatically: Bitchin’ Sauce is sold nationwide at over 6,800 retail stores, including those of Costco, Walmart, Target, Albertsons and 7-Eleven.  In an interview included in this episode, Edwards and her co-founder and husband L.A. discussed about how a passion for veganism and music provided a foundation for the brand’s origins, how they landed a deal with Costco early into the brand’s development and why they believe that owning a production facility has given them an advantage when working with retailers. They also spoke about how consumers perceive and respond to the brand’s name and why they’ll never change the primary elements of its packaging, as well as how they worked with 7-Eleven to develop an exclusive line of products for the retailer. Show notes: 0:36: Nowhere Else Exists A Retailer Like This One… Yet -- The episode’s hosts chatted about their weekly Clubhouse meet-up, a New York Times profile on upscale grocery chain Erewhon, the news that Oatly might be valued at $2 billion or more and discussed new products to come across their desks in recent days, including plant-based milks, clean label energy drinks and non-alcoholic spirits.  22:01: Interview: Starr & L.A. Edwards, Co-Founders, Bitchin' Sauce -- The Edwards spoke with Taste Radio editor Ray Latif about raising four kids while building a small business, why Starr juggled multiple jobs as a teenager and how being the mechanic for L.A.’s band was helpful down the road. They also discussed how their relationship with Costco began and grew, how they saved hundreds of thousands of dollars in building their production facility, getting up to speed on food safety and why an alternative name for the brand is never as popular as the original. Later, they explained why they’ve tried to stay under the radar when it comes to press, when to say “yes” to retailers and how the pandemic actually supported consumer trial of Bitchin’ Sauce. Brands in this episode: Bitchin’ Sauce, Imperfect Foods, Ithaca Hummus, Oatly, MALK, Rise Brewing Co., Better Than Milk, Fat Snax, Naya Foods, Base Culture, Brew Dr. Kombucha, Highkey, Hydrant, Fluere, Tanqueray
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Feb 16, 2021 • 45min

Ep. 239: Uncovering A Billion-Dollar Opportunity ‘Hidden In Plain Sight’

The opportunity, as Bill Shufelt explained, was hidden in plain sight.  Shufelt, the co-founder and CEO of non-alcoholic beer maker Athletic Brewing Co., believed that despite decades of stigma and ridicule for sober suds, modern consumers were ready and waiting for a better tasting and premium option. Following months of category research and market analysis, he launched Athletic Brewing Co. in 2017, which has emerged as the leading brand in a rapidly expanding market for non-alcoholic beer. Athletic has dominated the craft side of the category and holds a 54 percent share of the segment, which, according to Bill, is the fastest growing within non-alcoholic beer and grew over 300 percent in 2020.  In an interview featured in this episode, Shufelt, speaking from the company’s San Diego production facility which opened last year following a $17.5 million capital raise, discussed how a high-pressure career in finance led him to non-alcoholic beer, how he dealt with consistent rejection from beer industry professionals and how he landed his first investors. He also spoke about the yin and yang of his relationship with Athletic’s co-founder, John Walker, why he believes that “drama is so unproductive,” how he planned for and is managing explosive growth and how he evaluates strategic partnerships. Show notes:  0:42: Interview: Bill Shufelt, Co-Founder & CEO, Athletic Brewing Co. -- Shufelt spoke with Taste Radio editor Ray Latif for an expansive interview that began with his initial assessment of the non-alcoholic beer category, how his fast-paced lifestyle as a hedge fund executive introduced him to the category and how his calm, composed demeanor is reflected in the culture of Athletic Brewing Co. He also discussed the impact of health and wellness trends on the non-alcoholic beverage market, his methodology in measuring the potential for non-alcoholic beer, how a chance meeting at a BevNET Live event led to one of his first investors and the key to landing his most valuable distribution and retail partnerships. Later, Shufelt spoke about outgrowing Athletic’s initial production facility, his advice for forecasting demand, including why brand owners should avoid debt, how the brand’s personality has evolved since its launch and how major beer conglomerates have supported the company. Brands in this episode: Athletic Brewing Co., Stonyfield Farm, Honest Tea, Krave Jerky, Suja, Ballast Point
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Feb 12, 2021 • 1h 3min

Insider Ep. 111: How This Brand Quietly Built A $100M DTC Powerhouse

In this episode, we profiled the remarkable rise of Organifi in an interview with CEO Mae Steigler. Launched in 2014, Organifi is best known for its flagship powdered green juice and has quietly emerged as one of the leading direct-to-consumer brands in the nutritional supplement space, generating over $100 million in sales since its debut. The company is now setting its sights on the grocery channel, part of a growth strategy led by Steigler, who has been with Organifi since its launch and was promoted to CEO in January.  As part of our conversation, Steigler spoke about the origins of Organifi, the company’s impressive direct sales business and how she and her team crafted an effective consumer acquisition and retention strategy. She also discussed how Organifi scaled while being bootstrapped and taking in no outside capital and how daily huddles and employee empowerment are key to the company culture. Show notes:  0:42: Oatly’s ‘Super’ Gamble, Clubhouse Fatigue And Why We’re Talking About Leggs -- The hosts discussed Oatly’s admired/reviled Super Bowl ad, evaluated the usefulness of social media platform Clubhouse, encouraged entrepreneurs to join us for a “closeup” and riffed on a few new and notable products sent to the team over the past two weeks. 18:53: Interview: Mae Steigler, CEO, Organifi -- Taste Radio editor Ray Latif sat down with Steigler who spoke about how Organifi was born out of healthy lifestyle media platform Fitlife.tv, the reason that the company focused on powders and supplements and why direct-to-consumer (DTC) has been the brand’s primary sales channel. She also discussed the key components of an effective DTC strategy, why the company is now making retail sales a priority, the reasons that the company has avoided outside capital and how it has stayed under the radar within the food and beverage industry. Stiglier also spoke about her leadership style, how to cultivate efficient meetings and why the company takes a cautious approach to new hires. Brands in this episode: Organifi, Oatly, Harmless Harvest, Clearly Kombucha, Better Booch, Culture Pop, Flow Water, Kite, Skittles, Prevail Jerky, GT’s Living Foods, Big Easy Bucha, Magic Bullet, Suja, Blueprint Juice, Evolution Fresh
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Feb 2, 2021 • 34min

Ep. 238: How These 12 Words Make Fitness Icon Denise Austin ‘Ever Better’

Few faces in the fitness world are more familiar than that of Denise Austin. Known for her vibrant personality, motivational tone and sleek physique, Austin has sold over 24 million exercise videos and DVDs over the past four decades and hosted one of the longest running fitness-focused television shows. Today, she’s setting her sights on the food business with the launch of Ever Better snacks.  Launched in 2020 in partnership with brand management firm Healthy Lifestyle Brands, the line of protein- and probiotic-infused cookie bites are positioned as healthy, indulgent snacks for women. The products are the first part of Ever Better, a platform that will eventually encompass Austin’s website, magazine and workout videos.  As part of an interview featured in this episode, Austin spoke about her rise from college gymnast to one of the most recognized names in fitness and how she evaluates food and diet trends. She also discussed her role in the formulation and branding of Ever Better snacks, how she plans to be involved in the brand’s development and why integrity is the key factor in everything she does.  Show notes:  0:45: Interview: Denise Austin, Founder, Ever Better -- Austin sat down with Taste Radio editor Ray Latif for an expansive conversation that began with a chat about Denise’s surprising love of beer, why her daily workouts are shorter than you might expect and what her father taught her about becoming a great salesperson. She also explained why she advocates for people to eat healthy food 80% of the time, indulgent foods for the other 20% and how Ever Better fits into both categories, why the brand focused on protein and probiotics as the key functional ingredients and the key elements of its packaging. Later, Austin spoke about why her personality is the same onscreen and offscreen, , how she plans to attract women of all age groups with Ever Better and how she’s leaning on her core audience as the foundation for the brand’s consumer base. Brands in this episode: Ever Better Snacks

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