Taste Radio

If you want to get the attention of Boulder Food Group (BFG), a venture capital firm that recently launched a new $100 million fund, having a memorable package design is a good way to start.

Launched in 2014 by industry veterans Tom Spier and Dayton Miller, BFG has made early-stage investments in several innovative and socially conscious food and beverage brands, including Chameleon Cold-Brew, Caulipower, Birch Benders and MALK. In an interview included in this episode of Taste Radio, Spier explained why visual appeal is a key factor in BFG's investment criteria and paramount to the success of young brands.

"If you can deliver the right visual representation -- and then also the taste and the price -- you can steal a disproportionate amount of category share with that combination," Spier said. "But if you're lacking the visual appeal, that gets to be a lot more difficult. So we really do try to identify brands that really are beautiful, unique, memorable -- brands that are going to get a consumer to stop in a store, take a look, pick it up and, hopefully, buy it."

Also in our interview, Spier and Miller discussed their backgrounds in food and beverage, how BFG curates its portfolio and what they view as the value-added nature of the firm. They also spoke about why BFG likes "to scale into [its] investments" and shared their perspective on innovative concepts and what brands need to bring to the table in an investor meeting.

Show notes:

1:40: Post-Show, Now Is The Time for More Expo-sure -- The hosts reflected on Expo West 2019, and discussed the importance of brands to maintain momentum from the show, particularly if they launched new products at the event. Also: Mike re-enacted a spicy adventure and spoke about a couple new cascara products featured at Expo West.

10:03: Interview: Tom Spier & Dayton Miller, Managing Partners, Boulder Food Group --- As part of our interview, recorded at Expo West 2019, Spier and Miller spoke about Boulder Food Group's investment philosophy and how it evaluates and identifies synergies with entrepreneurial brands. They also discussed the environment for food and beverage investment and how it has evolved in recent years, and the data that can make or break an investor pitch.

Brands in this episode: Fire Cider, Fermenting Fairy, Riff Cold Brewed, Up to Good, Chameleon Cold-Brew, Olipop, MALK, CAULIPOWER, 4th and Heart, Birch Benders

If you want to get the attention of Boulder Food Group (BFG), a venture capital firm that recently launched a new $100 million fund, having a memorable package design is a good way to start.

Launched in 2014 by industry veterans Tom Spier and Dayton Miller, BFG has made early-stage investments in several innovative and socially conscious food and beverage brands, including Chameleon Cold-Brew, Caulipower, Birch Benders and MALK. In an interview included in this episode of Taste Radio, Spier explained why visual appeal is a key factor in BFG’s investment criteria and paramount to the success of young brands.

“If you can deliver the right visual representation -- and then also the taste and the price -- you can steal a disproportionate amount of category share with that combination,” Spier said. “But if you’re lacking the visual appeal, that gets to be a lot more difficult. So we really do try to identify brands that really are beautiful, unique, memorable -- brands that are going to get a consumer to stop in a store, take a look, pick it up and, hopefully, buy it.”

Also in our interview, Spier and Miller discussed their backgrounds in food and beverage, how BFG curates its portfolio and what they view as the value-added nature of the firm. They also spoke about why BFG likes “to scale into [its] investments” and shared their perspective on innovative concepts and what brands need to bring to the table in an investor meeting.

Show notes:

1:40: Post-Show, Now Is The Time for More Expo-sure -- The hosts reflected on Expo West 2019, and discussed the importance of brands to maintain momentum from the show, particularly if they launched new products at the event. Also: Mike re-enacted a spicy adventure and spoke about a couple new cascara products featured at Expo West.

10:03: Interview: Tom Spier & Dayton Miller, Managing Partners, Boulder Food Group --- As part of our interview, recorded at Expo West 2019, Spier and Miller spoke about Boulder Food Group’s investment philosophy and how it evaluates and identifies synergies with entrepreneurial brands. They also discussed the environment for food and beverage investment and how it has evolved in recent years, and the data that can make or break an investor pitch.

Brands in this episode: Fire Cider, Fermenting Fairy, Riff Cold Brewed, Up to Good, Chameleon Cold-Brew, Olipop, MALK, CAULIPOWER, 4th and Heart, Birch Benders

Show of hands — if you sold your company for $286 million, would you go back to work for the new owner? We're guessing there's not many arms raised. For Justin Gold, however, leaving the company he founded in 2004 after it was acquired by Hormel Foods in 2016 was never an option. Justin's, a pioneering brand of better-for-you nut butters and snacks, is not just his namesake — it's his legacy and one that continues to grow.

"The brand stands for something," he said in an interview included in this episode. "It has values. It has personality. It has charisma. But those values all hinge on me. And if I'm there, it really drives the connection back to the consumer, back to the retailer, back to the broker, back to the person -- and that's really important. It gives the brand a life outside of just a product."

In our interview, Gold spoke about his decision to stay with Justin's after the Hormel acquisition. He also discussed the brand's evolution and how a new take on a familiar snack and a key hire were game-changers for Justin's. Gold also explained his belief that making a lot of money and having a mission to change the world are not mutually exclusive.

Show notes:

2:34: Interview: Justin Gold, Founder, Justin's -- In our interview, recorded at Natural Products Expo West 2019, Gold spoke about his current role with the company following its acquisition by Hormel Foods, and his why he's "still the heart of the organization." He also explained his perspective that Justin's was a "10-year overnight success," the decision to align with Hormel, and what he views as the keys to innovation and improving the food system. Gold also discussed the growth of the brand following the hire of Peter Burns as CEO and what he learned from the longtime industry executive, and finally, how he hopes consumers perceive Justin's.

Brands in this episode: Justin's, Reese's, Hormel Foods

Show of hands — if you sold your company for $286 million, would you go back to work for the new owner? We’re guessing there’s not many arms raised. For Justin Gold, however, leaving the company he founded in 2004 after it was acquired by Hormel Foods in 2016 was never an option. Justin’s, a pioneering brand of better-for-you nut butters and snacks, is not just his namesake — it’s his legacy and one that continues to grow.

“The brand stands for something,” he said in an interview included in this episode. “It has values. It has personality. It has charisma. But those values all hinge on me. And if I’m there, it really drives the connection back to the consumer, back to the retailer, back to the broker, back to the person -- and that’s really important. It gives the brand a life outside of just a product.”

In our interview, Gold spoke about his decision to stay with Justin’s after the Hormel acquisition. He also discussed the brand’s evolution and how a new take on a familiar snack and a key hire were game-changers for Justin’s. Gold also explained his belief that making a lot of money and having a mission to change the world are not mutually exclusive.

Show notes:

2:34: Interview: Justin Gold, Founder, Justin’s --  In our interview, recorded at Natural Products Expo West 2019, Gold spoke about his current role with the company following its acquisition by Hormel Foods, and his why he’s “still the heart of the organization.” He also explained his perspective that Justin’s was a “10-year overnight success,” the decision to align with Hormel, and what he views as the keys to innovation and improving the food system. Gold also discussed the growth of the brand following the hire of Peter Burns as CEO and what he learned from the longtime industry executive, and finally, how he hopes consumers perceive Justin’s.

Brands in this episode: Justin’s, Reese’s, Hormel Foods

Just three and a half months since its debut, Recess, a sparkling water brand infused with CBD and adaptogens, has generated an incredible amount of buzz. Profiled in mainstream media outlets, including The New York Times, Forbes and CNBC, Recess has been dubbed the "LaCroix of CBD" and within days of its launch the products were backordered for weeks.

So what's behind the hype? In an interview included in this episode, Recess founder/CEO Benjamin Witte spoke about the brand's creation and how he set it up for a fast start. He also discussed the company's long-term mission, why Recess is marketing a solution rather than an ingredient, and why he believes the best way to succeed as a beverage company is not to think like one.

Show notes:

1:36: A Sea of CBD (and Investors) at Expo West -- On location in Anaheim for Natural Products Expo West 2019, the hosts discussed a significant shift in how entrepreneurs and investors interact at the annual trade show. They also spoke about new CBD products exhibited at the annual trade show and confusion about how the ingredient is promoted. They also riff on a few notable food and beverage brands featured on day one of Expo West.

21:44: Interview: Benjamin Witte, Founder/CEO, Recess -- In an interview recorded Recess's office in New York City, Witte spoke about his relationship with CBD and how it got him into the beverage business. He also discussed why he views Recess as a "recreational wellness brand" and plans to expand with digital and physical versions. He also explained why he believes that today, "brands are built on your phone," how Recess "designs feelings" and the lessons from the brand' pop-up show in Manhattan.

Brands in this episode: Recess, Wilde Brands, Revive Kombucha, Brew Dr. Kombucha, Rowdy Mermaid, Olipop, Wonder Drink, Humm Kombucha, Hella Cocktail Co., The Maple Guild, Sunwink, Waku, Goldthread, Fatworks, Q Soo, Sol Cuisine, Shrooms, Pan's Mushroom Jerky, Kitu, Spudsy, Riff Cold Brewed, Red Bull, Monster Energy, Rockstar Energy

Just three and a half months since its debut, Recess, a sparkling water brand infused with CBD and adaptogens, has generated an incredible amount of buzz. Profiled in mainstream media outlets, including The New York Times, Forbes and CNBC, Recess has been dubbed the “LaCroix of CBD” and within days of its launch the products were backordered for weeks.

So what’s behind the hype? In an interview included in this episode, Recess founder/CEO Benjamin Witte spoke about the brand’s creation and how he set it up for a fast start. He also discussed the company’s long-term mission, why Recess is marketing a solution rather than an ingredient, and why he believes the best way to succeed as a beverage company is not to think like one.

Show notes:

1:36: A Sea of CBD (and Investors) at Expo West -- On location in Anaheim for Natural Products Expo West 2019, the hosts discussed a significant shift in how entrepreneurs and investors interact at the annual trade show. They also spoke about new CBD products exhibited at the annual trade show and confusion about how the ingredient is promoted. They also riff on a few notable food and beverage brands featured on day one of Expo West.

21:44: Interview: Benjamin Witte, Founder/CEO, Recess --  In an interview recorded Recess’s office in New York City, Witte spoke about his relationship with CBD and how it got him into the beverage business. He also discussed why he views Recess as a “recreational wellness brand” and plans to expand with digital and physical versions. He also explained why he believes that today, “brands are built on your phone,” how Recess “designs feelings” and the lessons from the brand’ pop-up show in Manhattan.

Brands in this episode: Recess, Wilde Brands, Revive Kombucha, Brew Dr. Kombucha, Rowdy Mermaid, Olipop, Wonder Drink, Humm Kombucha, Hella Cocktail Co., The Maple Guild, Sunwink, Waku, Goldthread, Fatworks, Q Soo, Sol Cuisine, Shrooms, Pan’s Mushroom Jerky, Kitu, Spudsy, Riff Cold Brewed, Red Bull, Monster Energy, Rockstar Energy

When it launched in 2013, Boxed, an online retailer of bulk goods, had all the hallmarks of a tech startup. Audacious idea? Check. Parents' garage as the company office? Check. Low probability of success? Check. Unlike many startups, however, Boxed has thrived since its debut. The company, dubbed the "Costco for millennials," reached $100 million in sales in 2016 and has attracted interest from a variety of investors, who've injected over $243 million into the business. Last year Kroger reportedly made an offer to buy Boxed for a half-billion dollars.

So how has Boxed, which is less than six years old, achieved this position? We recently sat down with the company's co-founder and CEO Chieh Huang to get the answers. In our conversation, he spoke about his background and why the acquisitions of Whole Foods and Jet.com were critical to the development of the company. He also discussed the evolution of mobile commerce, the importance of user experience and customer service, and how Boxed curates its product assortment and utilizes consumer data. And in one of the most notable moments of our conversation, Huang explained why he believes the future of online food shopping "will feel like Netflix."

Show notes:

2:42: Interview: Chieh Huang, Co-Founder/CEO, Boxed -- In an interview recorded at Boxed headquarters in New York City, Huang discussed the company's origins and why its current office may look familiar to those in the tech community. He also explained why bulk retailing makes sense from an economic standpoint, why Boxed only carries 1,600 items, and the consumer- business-driven reasons behind the growth of online shopping. Huang also spoke about his unorthodox interviewing process, why he doesn't view co-workers as "family," and how he defines success.

Brands in this episode: Smartwater

When it launched in 2013, Boxed, an online retailer of bulk goods, had all the hallmarks of a tech startup. Audacious idea? Check. Parents’ garage as the company office? Check. Low probability of success? Check. Unlike many startups, however, Boxed has thrived since its debut. The company, dubbed the “Costco for millennials,” reached $100 million in sales in 2016 and has attracted interest from a variety of investors, who’ve injected over $243 million into the business. Last year Kroger reportedly made an offer to buy Boxed for a half-billion dollars.

So how has Boxed, which is less than six years old, achieved this position? We recently sat down with the company’s co-founder and CEO Chieh Huang to get the answers. In our conversation, he spoke about his background and why the acquisitions of Whole Foods and Jet.com were critical to the development of the company. He also discussed the evolution of mobile commerce, the importance of user experience and customer service, and how Boxed curates its product assortment and utilizes consumer data. And in one of the most notable moments of our conversation, Huang explained why he believes the future of online food shopping “will feel like Netflix.”

Show notes:

2:42: Interview: Chieh Huang, Co-Founder/CEO, Boxed -- In an interview recorded at Boxed headquarters in New York City, Huang discussed the company’s origins and why its current office may look familiar to those in the tech community. He also explained why bulk retailing makes sense from an economic standpoint, why Boxed only carries 1,600 items, and the consumer- business-driven reasons behind the growth of online shopping. Huang also spoke about his unorthodox interviewing process, why he doesn’t view co-workers as “family,” and how he defines success.

Brands in this episode: Smartwater

Over the course of his career, Ryan Lewendon, a partner with influential CPG law firm The Giannuzzi Group, has worked with hundreds of CPG brands, including Vitaminwater, Krave Jerky, Vita Coco and BodyArmor. His experience has provided him with a window into how successful entrepreneurs think and operate. In an interview included in this episode, Lewendon offered his perspective on the elements of a winning brand and what it takes to succeed.

As part of our conversation, he discussed how to avoid some of the early mistakes that can haunt entrepreneurs down the line and the keys to effective networking, plus tips on considering the valuation of your company and working with celebrities. He also shared why he believes next year may be the wrong time to launch a food or beverage company.

Also in this episode: BevNET's Martín Caballero and Brad Avery take us inside the latest issue of BevNET Magazine, which includes feature stories on the coffee category, flavors and functional ingredients and the spirits industry.

Show notes:

1:44: From NYC to Cabo to Expo West: The hosts chat about Ray's recent visit to NYC, where he recorded several podcast interviews, including with Fever-Tree North America CEO Charles Gibb and Boxed co-founder/CEO Chieh Huang and made a visit to Recess IRL, an experiential pop-up shop launched by the CBD-infused sparkling water brand. Later on, John Craven spoke about his visit to BevNET's San Diego office and meeting with a couple hard kombucha entrepreneurs. The hosts also encouraged attendees of the upcoming Natural Products Expo West 2019 to follow @bevnet, @noshdotcom and @bevnettasteradio for pics of new products and brands featured at the event.

15:09: Interview: Ryan Lewendon, Partner, The Giannuzzi Group -- Lewendon has been with the firm since its inception in 2010, and has helped hundreds of companies navigate growth at every stage of their development, and advised entrepreneurs from initial launch through to a multi-million dollar exit. In a wide-ranging interview recorded at The Giannuzzi Group office in Manhattan, Lewendon discussed his background in the food and beverage industry and why the firm's "business model is to get fired every year." He also offered his perspective on why networking is all about building relationships, the dangers of treating equity "as too much of a currency," why there's no magic formula for valuations of small companies, how to approach celebrities about getting involved with your brand and why he thinks that if you're thinking about starting a food or beverage company, you should not wait till 2020.

43:11: Inside The Latest Issue of BevNET Magazine -- Published last week, the January/February 2019 issue of BevNET Magazine includes articles penned by BevNET's Martín Caballero and Brad Avery, who shared insights and additional analysis about the content.

Brands in this episode: Recess, Fever-Tree, Junshine, Novo Brazil, Boochcraft, Luna Bay Kombucha, RightRice, Banza, BodyArmor, Calidad Beer, Alfred Coffee & Tea, Once Upon a Farm, Foodstirs

Over the course of his career, Ryan Lewendon, a partner with influential CPG law firm The Giannuzzi Group, has worked with hundreds of CPG brands, including Vitaminwater, Krave Jerky, Vita Coco and BodyArmor. His experience has provided him with a window into how successful entrepreneurs think and operate. In an interview included in this episode, Lewendon offered his perspective on the elements of a winning brand and what it takes to succeed.

As part of our conversation, he discussed how to avoid some of the early mistakes that can haunt entrepreneurs down the line and the keys to effective networking, plus tips on considering the valuation of your company and working with celebrities. He also shared why he believes next year may be the wrong time to launch a food or beverage company.

Also in this episode: BevNET’s Martín Caballero and Brad Avery take us inside the latest issue of BevNET Magazine, which includes feature stories on the coffee category, flavors and functional ingredients and the spirits industry.

Show notes:

1:44: From NYC to Cabo to Expo West: The hosts chat about Ray’s recent visit to NYC, where he recorded several podcast interviews, including with Fever-Tree North America CEO Charles Gibb and Boxed co-founder/CEO Chieh Huang and made a visit to Recess IRL, an experiential pop-up shop launched by the CBD-infused sparkling water brand. Later on, John Craven spoke about his visit to BevNET’s San Diego office and meeting with a couple hard kombucha entrepreneurs. The hosts also encouraged attendees of the upcoming Natural Products Expo West 2019 to follow @bevnet, @noshdotcom and @bevnettasteradio for pics of new products and brands featured at the event.

15:09: Interview: Ryan Lewendon, Partner, The Giannuzzi Group -- Lewendon has been with the firm since its inception in 2010, and has helped hundreds of companies navigate growth at every stage of their development, and advised entrepreneurs from initial launch through to a multi-million dollar exit. In a wide-ranging interview recorded at The Giannuzzi Group office in Manhattan, Lewendon discussed his background in the food and beverage industry and why the firm’s “business model is to get fired every year.” He also offered his perspective on why networking is all about building relationships, the dangers of treating equity “as too much of a currency,” why there’s no magic formula for valuations of small companies, how to approach celebrities about getting involved with your brand and why he thinks that if you’re thinking about starting a food or beverage company, you should not wait till 2020.

43:11: Inside The Latest Issue of BevNET Magazine -- Published last week, the January/February 2019 issue of BevNET Magazine includes articles penned by BevNET’s Martín Caballero and Brad Avery, who shared insights and additional analysis about the content.

Brands in this episode: Recess, Fever-Tree, Junshine, Novo Brazil, Boochcraft, Luna Bay Kombucha, RightRice, Banza, BodyArmor, Calidad Beer, Alfred Coffee & Tea, Once Upon a Farm, Foodstirs