Taste Radio

When assessing funding opportunities for early- and mid-stage companies, First Beverage Group, an investment and advisory firm that works with and invests in brands across the beverage spectrum, has a category-first mindset. First Beverage believes that "the tail winds of a strong category -- no what that dynamic might be -- can always help a business as it's starting to get off the ground early," according to vice president Joe Angiuli, who, along with managing partner Jack Belsito and managing director Bob Nakasone, joined us for an interview included in this episode. That approach has guided the firm as it has made investments in fast-growing brands, including Essentia, Health-Ade Kombucha and Q Drinks. As part of our conversation, the trio spoke about the about the First Beverage's portfolio and investment philosophy and how they evaluate synergies with entrepreneurial brands. They also discussed the current funding environment for the food and beverage industry, which categories might be best suited to weather a potential downturn, and why CBD is not the only cannabis-based ingredient that's caught the attention of First Beverage. Show notes: 1:18: The New Way To 'Gram Your Pepsi Lime — It's a brave new world out there: PepsiCo is putting lime juice in its flagship cola and perfect Instagram posts are a thing of the past. The hosts break it all down in the opening minutes of the episode. 8:39: Jack Belsito, Bob Nakasone & Joe Angiuli, First Beverage Group — In an interview recorded at Expo West 2019, Taste Radio editor Ray Latif spoke with Belsito, Nakasone and Angiuli about their backgrounds and roles with First Beverage and discussed how the firm's mission has shaped its portfolio. They also explained why they value entrepreneurs that are "coachable," and why they believe the energy category will continue to grow and evolve. Later, they spoke about the firm's perspective on CBD and THC, what growth stage First Beverage usually invests in a brand and what entrepreneurs shouldn't say in a pitch meeting. Brands in this episode: Pepsi, KeVita, Health-Ade, Essentia, Q Drinks, Project Juice, Repsly, Gem&Bolt, Laws Whisky House, VitaCup

Nearly 20 years ago Jesse Laflamme came home from college to find his family's egg brand, Pete and Gerry's, on the precipice. Consolidation in the egg and retail grocery industries left the company in turmoil and on the verge of bankruptcy. Despite the urging of his parents to consider another career, Laflamme, now the CEO of Pete and Gerry's, was committed to the brand and solving its problems. Over the past two decades, Laflamme has led a turnaround that's seen the company grow from a struggling business into one of the country's leading egg brands, pulling in over $200 million in sales in 2018. In an interview included in this episode, Laflamme spoke about how Pete and Gerry's not only got back on its feet, but excelled beyond anyone's expectations. Show notes: 2:44: Interview: Jesse Laflamme, CEO, Pete and Gerry's -- Laflamme traveled from New Hampshire to BevNET HQ for an interview that explored the highs and lows of his 20-year career at Pete and Gerry's, his family's egg farming business. Laflamme discussed how consolidation in the egg industry negatively affected small farms, including his family's, and detailed the stark differences between conventional egg producers and that of small and organic ones. He also spoke about why Pete and Gerry's shift to organic production was a "Hail Mary" that helped save the company and how the move helped win over some mainstream grocery chains. Later he discussed how he learned on the job as CEO, why never being complacent was key to the company growth, and why he undertook a major change in the company's business strategy by partnering with organic egg farm across the country. Laflamme also spoke about surrounding himself with experienced and talented operations and marketing professionals gave the company a foundation for rapid growth and why he is vehemently fighting a PETA-supported lawsuit that alleges the company does not treat its hens as well as advertised. Brands in this episode: Pete and Gerry's, Carol's Eggs, Nellie's

You might have put time, money, blood, sweat and tears into building your brand, but at the end of the day it doesn't belong to you. That's the perspective of Christian Krogstad and Thomas Mooney, the co-founders of Westward Whiskey, which helped establish the rapidly growing American single-malt whiskey category. As part of a wide-ranging conversation included in this episode, Krogstad and Mooney explained that consumers, via their palates and wallets, are Westward's true owners. "We share a belief that it's Westward, not either of us, that should be famous," Mooney said. "And that we want our whiskey to do the talking. Ultimately, brands belong to the people who enjoy them, not to the people who make the products." Originally founded as House Spirits Distillery in 2004, Westward was one of several brands in a broad portfolio that included Aviation Gin -- since acquired by actor Ryan Reynolds -- and others. Following an investment from Distill Ventures, the venture capital arm of beer and spirits conglomerate Diageo, in 2018, the Portland, Ore.-based company shifted its primary focus to Westward, a single-malt whiskey that draws inspiration from Oregon's deep-rooted craft beer culture. As part of our conversation, Krogstad and Mooney spoke about Westward's origins and explained why it was important for them to develop a personal relationship prior to formalizing their professional one. They also discussed the company's alignment with Distill Ventures and how they determined it was the right partner, what the notion of a "better whiskey" means to them and why compelling innovation means giving people something they "never realized they wanted." Show notes: 1:46: John at Kon, DragNet & a Whole Lotta Protein -- John and Mike returned to the studio after a week away from the office and discussed their trips to L.A. and Vermont, respectively. John also spoke about his experience at KombuchaKon, an annual trade show focused on the business of kombucha, where he presented on a panel and sampled a wide variety of products, including one from Iceland. He also explained the concern among KombuchaKon attendees in how some brands are marketing and promoting their products. Later, the hosts bantered about the development of the market for CBD in L.A. and chatted about a few notable products that came into the office over the past week. 19:25: Christian Krogstad/Thomas Mooney, Co-Founders, Westward Whiskey -- Krogstad and Mooney joined Taste Radio editor Ray Latif for an interview recorded at the Westward Whiskey distillery in Portland, Ore. Krogstad spoke about his background in craft brewing and how it led to him to launch a distillery and Mooney discussed how his experience with CPG conglomerates provided him with both a foundation and thirst for entrepreneurship. Later, they explained why partnership with a strategic investor has long been part of the company's business strategy and how they developed a relationship with Distill Ventures long before its investment in Westward. They also spoke about Westward's "beer-philic" approach to distilling and why a limited marketing budget means that they "can never be complacent in product development." Brands in this episode: Nutty Steph's, Alchemist Beer, Kombucha Iceland, GT's Living Foods, Brew Dr. Kombucha, Humm Kombucha, Boochcraft, Dosist, Cha Cha Matcha, Smashpack, Muscle Milk, OWYN, Smarties, Protes, Lemon Perfect, Westward Whiskey, McMenamins, Fiji Water

It's remarkable to hear John Bello's current take on SoBe, the lifestyle beverage brand that he co-founded and sold to PepsiCo for nearly $400 million. Already an accomplished marketing executive when he launched the brand in 1996, Bello helped shape SoBe's healthy halo and exotic vibe by infusing its drinks with trendy functional ingredients like ginseng and ginkgo biloba. However, he admits that SoBe was essentially "sugar water" packaged and designed to give consumers what they believed to be a healthier option. "There was a user base that liked the fact that there was ginseng, ginkgo and guarana in it," he said. "And almost every week on every lifestyle show they would be talking about something new that could make you stronger, smarter, skinnier and sexier, and that's what we promoted. The reality was, we were sugar water. We had a user base that really felt that what they were drinking was better than the alternatives." Bello's admission is part of an intriguing conversation included in this episode. In it, he expounded upon the development of SoBe, including early missteps and why coming of age during an era of "healthy hedonism" turned it into a top-seller. He also chronicled his long career as a business executive and entrepreneur, which began with an ROTC scholarship and a tour of duty in the Vietnam War and included roles with General Foods and the NFL. Bello also explained why he accepted an offer to become chairman of Reed's, a ginger-centric brand of craft sodas, and how he views its products as providing the kind of functional benefits that SoBe lacked. Show notes: 2:42: Interview: John Bello, Co-Founder, SoBe/Chairman, Reed's -- In an interview recorded at Reed's headquarters in Norwalk, Conn., Bello recounted how his experience in the Navy provided a foundation for his business career and how he earned the nickname "Merchant of the Mekong Delta" during the Vietnam War. He also explained why working on the Sanka brand while at General Foods was his "first exposure to wellness," and what he learned about branding and distribution while at PepsiCo. Later, he spoke about his experience as the vice president of marketing for NFL Properties and how it gave him his first taste of entrepreneurship and how a stint at AriZona paved the way for SoBe's marketing strategy. He also explained why the initial concept for SoBe failed and how the brand's embrace of "healthy hedonism" and timely distribution opportunities gave it a runway for success. Finally, he spoke about why he joined Reed's and why he views its ginger beer brand as potentially filling a void in major beverage portfolios. Brands in this episode: SoBe, Reed's, Maxwell House, Sanka, AriZona, Mountain Dew, Pepsi, Hint, LaCroix, Goslings, Cock'n Bull, Fever-Tree, Bundaberg, BodyArmor

August Vega is a "go big or go home" kind of entrepreneur. The founder and CEO of MALK, a super-premium brand of organic nut milks, Vega cut her teeth in the beverage business selling her wares at farmers markets in Houston. From the outset, Vega had lofty ambitions: she wanted to develop MALK into a billion-dollar brand. "I believe that we are in control of our own destiny, and why shoot for a low bar?" she said in an interview included in this episode. "It is a high bar… but we're seeing a pretty big evolution in the plant-based space, not just from a dairy perspective, but in meats -- it's everywhere. And I think there's potential." Since launching the brand in 2014, Vega has maintained that focus and made strides toward her goal. MALK is sold nationally at Whole Foods and carried at a variety of mainstream grocers and mass retailers, including HEB and Target. In an interview included in this episode, Vega spoke about the origins of MALK and why she envisioned it as a billion-dollar brand from the outset. She also explained why data has been critical to the company's development and the variety of ways it sources sales information and consumer feedback. Vega also discussed how MALK considers innovation and investment and talked about how she navigated the company through a particularly challenging period. Show notes: 1:09: Steeped in Specialty Coffee -- The hosts kicked off the episode with a discussion about innovative and interesting coffee brands featured at the recently held Specialty Coffee Association Expo. Among notable brands viewed at the annual trade show, hosted in Boston from April 11-14, were Steeped, a maker of bagged coffee grounds, and Elemental Beverage Co., a manufacturer of commercial appliances that chill fresh-brewed coffee in 60 seconds. The hosts also chatted about the latest issue of BevNET Magazine, which includes feature articles on the premium water category, powder beverages and craft beer as well as a comprehensive listing of functional beverages marketed in the U.S. 14:59: Interview: August Vega, Founder/CEO, MALK -- Recorded at Natural Products Expo West 2019, Vega spoke about the coincidental ties between MALK and a fictional brand featured in "The Simpsons" and how dairy allergies in her family and dissatisfaction with nut milk brands led her to create MALK. She also explained why MALK doesn't use the word "milk" on packaging or marketing, why data drives much of its business and innovation strategy and why Boulder Food Group is the right investment partner for the company. Later, she discussed the controversy surrounding MALK's use of high pressure processing as a safety step and how she addressed concerns about the products, and what she views at the near future for the brand. Brands in this episode: MALK, Steeped Coffee, Sudden Coffee, Blume, Roasterie, Atomic Coffee Roasters, Izzy CBD, Elemental Beverage Co., Essentia, Core, C4

According to Joe Heron, ignorance is underrated. A serial beverage entrepreneur on his third startup, Heron joined us for an interview included in this episode, in which he expressed his belief that "the number one characteristic of an entrepreneur is stupidity... because you manage the opportunity, you don't manage the risk." Having founded and successfully sold functional drink brand Nutrisoda and Crispin, a brand of premium hard ciders, Heron is now at the helm of Copper & Kings, a brandy-centric distillery based in Louisville, Ky. Prior to launching Copper & Kings in 2014, Heron had no prior experience in the distilled spirits industry, and, as he would learn, the process of starting a new distillery is notoriously difficult and expensive. Nevertheless, Heron couldn't pass up an opportunity to fill what he identified as a gap in the market for high quality American brandy. "For entrepreneurs, it becomes a compelling challenge of making the idea real," he said. "When you look at brandy, an enormous category, and the fact that was no American brandy, that felt like a really big idea." As part of our conversation, Heron spoke about his career as a brand creator beginning with Nutrisoda in 2002 through to the launch of Copper & Kings in 2014. Heron also explained why he views entrepreneurship as an art form and an outlet for creative expression, how he identified cider and brandy as two beverage categories that were ripe for innovation, what he took into consideration when selling Crispin to MillerCoors and why he decided to sell a minority stake in Copper & Kings to beverage alcohol conglomerate Constellation Brands. Show notes: 2:50: Interview: Joe Heron, Founder/CEO, Copper & Kings -- In an interview recorded via weblink, Heron spoke with BevNET CEO John Craven and Taste Radio producer Ray Latif about his path to entrepreneurship and what motivated him to launch Nutrisoda, a functional beverage brand that was acquired by PepsiCo in 2006. He also explained how a British trend of hard cider served over ice led him to create Crispin and why the company's focus on marketing and innovation helped it to stand out among competitors. Later, he spoke about the sale of Crispin to beer giant MillerCoors and discussed his belief that "it's better to be fast and messy than slow and late." He also explained why it's important for the company to "behave like an incumbent, not a challenger" and why he views distilled spirits giant Constellation, which holds a minority stake in Copper & Kings as "essentially as startup masquerading as a giant corporation." Brands in this episode: Nutrisoda, Vitaminwater, SoBe, Crispin Cider, Copper & Kings

As the saying goes, "a picture is worth a thousand words." When evaluating investment opportunities, Chris Hollod, a venture capitalist focused on early-stage consumer brands, takes the adage to heart. "I tell every brand: 'I judge you within the first two seconds of looking at your Instagram page,'" he said in an interview included in this episode. "I think it's the most important piece of the puzzle aside from the actual packaging itself." That perspective has helped shape Hollod's portfolio, which includes stakes in a number of lifestyle brands, including Matchabar, Dirty Lemon, Know Foods and Recess, among others. Listen to our full interview with Hollod, who spoke in depth about his investment philosophy, how he identifies bleeding edge trends and categories, and what an examination of "signal to noise ratio" can reveal about a brand's prospects. Show notes: 1:28: Receptors, Randy's and Roscoe's -- Early into the episode, Mike pops some CBD mints to (hopefully) address a few ailments, and the hosts discuss the difference between early-stage venture capitalists and angel investors. Later, they imbibe on some non-alcoholic beer from London (it's pretty tasty stuff) and chat about why it makes sense for successful and sometimes wealthy entrepreneurs to seek outside capital for a new company. Last, but not least, Ray expresses his love/hate relationship with donuts. 14:14: Interview: Chris Hollod, Founder/Managing Partner, Hollod Holdings -- In an interview recorded in Los Angeles, BevNET's John Craven and Mike Schneider spoke with Hollod about his background and investment philosophy and why digital strategy is at the top of his list when evaluating brands. He also explained why he believes that his job requires him to not only to follow and facilitate innovation but to predict it. Brands in this episode: Pur 7, Lucent Botanicals, Black Medicine Coffee, Infinite Session, O' Doul's, Founder's Brewing, Spudsy, Buff Bake, Kane's Donuts, Union Square Donuts, Voodoo Doughnut, Dunkin, Randy's Donuts, Roscoe's, Recess, Dirty Lemon, Matchabar, Know Foods, JuneShine, Blue Bottle Coffee, Four Sigmatic, Tenzo Tea, MUD\WTR, Verb Energy

A serial entrepreneur who started working for himself at age 12, Mark Sisson, has launched dozens of businesses over the course of his career. Last year, he finally hit the jackpot. Sisson is the founder of Primal Kitchen, a Paleo-centric brand of condiments and dressings that he founded in 2015. Primal Kitchen has been his biggest success as an entrepreneur; last year Kraft Heinz acquired the brand for $200 million. Although Primal Kitchen was on the market for just over three years when it was acquired, the brand, which was born out of Sisson's popular blog, was decades in the making. In an interview included in this episode, Sisson spoke about his background as an entrepreneur and how his experience in direct-to-consumer sales paved the way for his blog and help lay the foundation for Primal Kitchen. Sisson also discussed effective techniques for communicating with modern consumers and why he views Kraft Heinz as the perfect partner. Show notes: 2:36: Interview: Mark Sisson, Founder, Primal Kitchen -- In an interview recorded at Natural Products Expo West 2019, Sisson spoke with NOSH editor Carol Ortenberg about the variety of business he founded early in his career and why he launched his blog, Mark's Daily Apple, in 2006. He also explained why the blog became so influential within the health and wellness community and how it provided Primal Kitchen with a smooth path to Whole Foods. Sisson also discussed the competitive landscape for Paleo foods and how Primal Kitchen is attempting to separate itself from the pack. Finally, he offered his perspective on the evolution of the food industry and why synergies from the Kraft Heinz deal will be a boon for both companies. Brands in this episode: Primal Kitchen, Soylent

In this episode, we examine brand-building and retail strategies for center store grocery in interviews with the founders of two category-leading brands: Katlin Smith, the founder and CEO of fast-growing baking mix brand Simple Mills, and David Eben, the founder of Carrington Farms, a leading brand of organic seeds, grains and oils. Smith is the founder and CEO of Simple Mills, a brand of natural baking mixes, crackers and cookies, that she launched in 2013. Over the past six years, Simple Mills has become one of the leading natural brands in the spaces in which it plays. Its products are distributed in over 13,000 conventional and natural grocery stores including Whole Foods, Sprouts, Target, Kroger and Safeway. Smith was named to the Forbes 30 Under 30 Class of 2017 and based on what you'll hear in our interview, it's easy to understand why. Smith spoke about the origins of Simple Mills, how she assessed the opportunity for a better-for-you baking mix brand, what her first year was like and her definition of entrepreneurial commitment. Carrington Farms, a leading brand of organic seeds and cooking ingredients, actually started out as a tea company. Founder and CEO David Eben discussed the brand's evolution and how its portfolio has grown over the years. Entrepreneurs would be advised to take note of David's advice on working with retail buyers and why it has been and continues to be a key part of the company's business and innovation strategies. Show notes: 1:34: New Kids on the Block -- The hosts chatted about new team members at BevNET HQ including those in marketing, sales and with our NOSH vertical. They also riffed on a bunch of new products sent to the office this week and how some are advancing the categories that they participate in. 16:51: Interview: Katlin Smith, Founder/CEO, Simple Mills -- In an interview recorded at Natural Products Expo West 2019, Smith spoke with BevNET CMO Mike Schneider about her background in management consulting and how it played into the development of Simple Mills. She also discussed the day-to-day grind of her first year in business and how she stayed motivated, how she learned to most effectively present and communicate to investors, retailers and consumers and explained why leadership is about being "willing to change." 34:09: Interview: David Eben, Founder/CEO, Carrington Farms -- Also recorded at Expo West 2019, Eben spoke with Taste Radio Editor/Producer Ray Latif about Carrington Farms' evolution from a tea manufacturer to a stable brand for natural and organic ingredients. Eben also discussed the importance of retail buyer relationship, why product development is an "up and down" process that involves both suppliers and retailers, how a crispy quinoa puff was reborn as a crouton, and how to stay relevant with consumers. Finally, he spoke about the company's charitable arm, Carrington Cares. Brands in this episode: Nick's Sticks, Vital Proteins, Spudsy, Recipe 33, Pizootz, Ugly Drinks, Banzo Bites, Rachel's Overnight Oats, Simple Mills, Carrington Farms

David Bronner, the Cosmic Engagement Officer of Dr. Bronner's, wants to save the world. How, one might ask, does he plan on doing that? Simple. A lot of soap and a dash of psychedelics. Since Bronner took the reins of his family's business in 1998, Dr. Bronner's has become the top-selling brand of natural soaps in North America. The company, which also markets natural toothpaste, lip balm, shaving cream and coconut oil, generated $122 million in sales in 2018, over 30 times its revenue when Bronner took over. Dr. Bronner's, which was founded as a non-profit, religious organization dedicated to world peace, has used that growth to fuel its advocacy for social and environmental causes. The company has donated tens of millions of dollars into efforts supporting GMO transparency, the integration of cannabis and psychedelic drugs into American medicine, and regenerative organic agriculture. As part of a wide-ranging interview included in this episode, Bronner spoke about his roots with the natural soap company and how his advocacy for hemp contributed to the evolution of the brand. He also explained why he supports the use of psychedelics within the context of the company's philanthropic strategy, discussed what makes Dr. Bronner's concept of corporate responsibility different, and how it is preserving its legacy. Show notes: 3:45: Interview: David Bronner, CEO, Dr. Bronner's -- In an interview recorded at natural products Expo West 2019, Bronner spoke about the company's origins in Southern California and how his experience as a Harvard student helped shape his personal belief system. He also discussed how his advocacy for hemp cultivation included being caged in front of the White House and planting hemp seeds on the DEA's lawn, his work with Multidisciplinary Association for Psychedelic Studies and why he believes psychedelics are the "last gift of the counterculture that hasn't been integrated" into the mainstream. Later, he spoke about the company's work in regenerative organic agriculture and why it's so important for companies to vet their supply chains. Finally, he discussed why the company has adopted a benefit corporation structure and how it is laying the foundation for the next generation of managers and executives. Brands in this episode: Dr. Bronner's, Patagonia, Guayaki, Nature's Path, Honest Tea, Annie's