Bonus Content: How To Find Angel Investors That Will Give Your Business Wings

Twenty-three years, nine brands and four successful exits. Serial entrepreneur Lance Collins has seen it all.  Yes, he sold Fuze and NOS to the Coca-Cola Co. and reaped a windfall return. Yes, Coke also paid billions to buy BodyArmor, while Keurig Dr Pepper acquired Core Hydration for $525 million. There’s no question that his wins are impressive.  But Lance will tell you that he’s made nearly every mistake one can make in the beverage industry and has experienced raw and desperate times, including mortgaging his house to stay in business.  When asked about a throughline that has linked his companies and defined his career, Lance points to passion. He says it’s why he continues to develop new beverage concepts, such as organic sports drink Recover 180, fitness-centric energy brand Accelerator, additive-free tequila Casa Azul, better-for-you soda MyMuse and ZEN WTR, a brand of sustainable bottled water. We sat down with Lance at the 2024 Beverage Forum, where he talked about his current and past ventures, lessons from successes and missteps, how he identifies white space and defines differentiation, the reason that entrepreneurs fail and why he encourages founders to make “fast mistakes.” Show notes: 0:35: Interview: Lance Collins, Founder, BodyArmor/Recover 180/Accelerator/Fuze – Lance and Taste Radio editor Ray Latif reminisce on past interviews and why the entrepreneur is a “traveling salesman.” Lance also talks about the grind and long-term process of building a beverage company, getting into the beverage alcohol business and why he launched another sports drink brand. He also explains lessons learned from BodyArmor and how he’s applying them to Recover 180, the challenge of competing with Celsius, his take on Poppi, the impact of standout package design and why he credits great people to much of his success.  Brands in this episode: BodyArmor, Fuze, NOS Energy, Core Hydration, Recover 180, Accelerator, Casa Azul, Celsius, Poppi, MyMuse, Bang, Monster Energy, Red Bull

Dates, consumed for millennia, are having a modern moment. But can the superfood maintain its momentum, particularly among mainstream consumers? And, while we’re asking: has “superfood” lost its luster? Taste Radio’s hosts have their say. We also sit down with MMA icon Quentin “Rampage” Jackson, who is a partner with upstart beverage brand F3 Energy. Show notes: 0:38: No ECL, Thank You. Don’t Sit Next To Ray. A Plurality of Cacao. Sounds Fishy. – Mike trolls Ray about a recent soccer game, it’s clear that Jacqui is the one to call in the event of an emergency, and an early-stage date snack brand sparks a discussion about how the fruit and other superfoods are marketed and sold. The hosts also munch on a new line of corn-based, onion-flavored, ring-shaped snacks (yes, you guessed it) and opine on better-for-you versions of legacy snacks, while Mike gets ceremonial about a new cacao drink and reveals a somewhat strange breakfast habit. 30:14: Quentin “Rampage” Jackson, Partner, F3 – MMA fans are undoubtedly familiar with the name “Rampage.” The sobriquet belongs to one of the sport’s icons, Quentin Jackson, a former title holder in the UFC’s light heavyweight division. Quentin is still active in the MMA community and currently aligned with the United Fight League, which was founded by entrepreneur Harrison Rogers in 2023. Harrison is also the founder of F3, a nascent brand of energy and mood-enhancing drinks, of which Quentin is a partner. Quentin spoke about his role with F3, why he urged Harrison not to get into the beverage industry and how he’s using novel social platforms to promote the brand. He also addresses a touchy topic that almost landed Ray in hot water. Brands in this episode: F3 Energy, Straightaway Cocktails, Sibz, Joolies, Ora Cacao, Chia Smash, Lesser Evil, Funyuns, The Good Crisp, Doritos, Combos, Rivalz Snacks, Snacklins, Harken Sweets, Djablo Sauce, IQ Bar, Doosra, Fishwife, Ark Cocktails, Monster Energy

Emma Chamberlain isn’t jaded by the ebb and flow of beverage entrepreneurship. Not yet, anyway. On the contrary, the 22-year-old, who rose to fame as a YouTube creator and has since become one of the most prominent influencers in the world, says that she revels in the daily lessons learned from building her coffee brand, Chamberlain Coffee.  Founded in 2020, Chamberlain Coffee sells whole beans, matcha and instant coffee direct-to-consumer and also markets ready-to-drink dairy-free lattes that are carried by Whole Foods, Albertsons, Walmart and Target.  We sat down with Emma and Chamberlain Coffee CEO Christopher Gallant at the 2024 Beverage Forum, held last week in Manhattan Beach, California, for a conversation about the brand’s development and growth strategy, why its identity is anchored by love and modernity, and how collaborations with other brands is determined by a set of “filters.” This episode also features a conversation with Buster Houston, the vice president of national merchandising for supermarket giant Albertsons. Buster offers a deep dive into Albertsons’ merchandising strategy and the “four p’s” that dictate decision-making; how packaging impacts shelf placement and, in turn, generates trial; why slotting fees aren’t as cut and dry as they may seem and how early-stage brands can start a conversation with the retailer.   Show notes: 0:35: Interview: Emma Chamberlain, Founder & Chris Gallant, CEO, Chamberlain Coffee – Ray makes Emma blush before she and Chris discuss Chamberlain Coffee’s progress at Whole Foods, how the brand is generating velocity at the retailer and how they are attempting to cultivate love for the brand among Emma’s followers. They also talk about how product mix enables them to reach a broader audience, creating a coffee company for modern consumers, convincing Starbucks consumers to try Chamberlain Coffee and why Emma is constantly fascinated by the beverage industry. 14:03: Interview: Buster Houston, VP National Merchandising, Albertsons – Buster riffs on his first name before discussing the complexity and key elements of a successful merchandising strategy. He also talks about the evolution of package design and how it applies to esoteric beverages, what might compel Albertsons to take a flier on a new or innovative brand, the art and science of merchandising, and how the company uses internal and external data to make merchandising decisions. He also explains how brands can “graduate” out of the natural sections of its stores, the reason that he describes slotting fees as part of a partnership with Albertsons and why he encourages founders to email him. Brands in this episode: Chamberlain Coffee, Starbucks

When the world’s largest retailer launches a private label brand of better-for-you and affordable food and beverage staples, it stands to reason that their customers will benefit. But how will Walmart's new bettergoods brand impact its existing CPG suppliers? The Taste Radio crew weighs in. Show notes: 0:35: A Terrifying Chameleon. Tipping Protocol. BevNET Gandalf. It’s Yeah. – On location at The Beverage Forum in Manhattan Beach, California, Ray and John share a few highlights from the event, including notable interviews recorded from our makeshift Taste Radio studio. Jacqui and Ray briefly recap Naturally San Diego’s third annual Pitch Slam and how a costumed person scared the living daylights of the competition’s host. Jacqui shares a secret about her shopping habits, the hosts collectively opine on Walmart’s latest opus and Mike is urged to bathe… in lemongrass curry. Brands in this episode: Loli’s, BAM, Mesa De Vida, Sipwell, Madly Hadley, Chamberlain Coffee, The Free Spirits Co., Banza, Siete Foods, Califia Farms, Honest Kids, Just Ice Tea, Red Boat, Mizu Lab

A bold and carefree woman. A living embodiment of human adventure. A confident explorer known to travel the world atop a moose. Archer Roose, the fictional character that Marian Leitner created to represent her wine brand in name and label design, is all of those things. One could say the same (except for the moose part) about Elizabeth Banks, the Hollywood multi-hyphenate known for acting roles in the films “The Hunger Games” and “Love & Mercy” and as the director of comedies “Pitch Perfect 2” and “Cocaine Bear.” Aligned in personality and passion for wine, Elizabeth and Archer Roose formally partnered in May 2021, when she joined the company as a co-owner and Chief Creative Officer. Her arrival came seven years after Marian and husband David Waldman launched Archer Roose, a brand developed to “deliver a better, luxurious glass of wine in a conveniently portable, sensibly portioned, and environmentally conscious package.” Archer Roose markets six varieties of wine, including Sauvignon Blanc, Malbec, Pinot Grigio and a Bubbly Rosé, each packaged in 250 mL cans and sold individually and in four-packs. The brand is represented in thousands of bars, restaurants and retailers across the U.S., including Target, Sprouts and Total Wine & More. Archer Roose is also the exclusive wine brand on JetBlue flights and in March partnered with Regal Cinemas to bring its Bubbly and Malbec cans into over 100 theaters nationwide. We recently sat down with Elizabeth and Marian for a conversation about the origins of their relationship and how they built rapport, trust and set expectations for each other;, how they incorporate a sense of adventure, breaking rules and relatable humor into Archer Roose’ marketing strategy; and why entering Target meant being about to swing at a pitch they could hit. Show notes: 0:35: Elizabeth Banks & Marian Leitner, Co-Owners, Archer Roose – Taste Radio editor Ray Latif and Elizabeth share their love for game show “Press Your Luck,” the reboot of which she hosts, before he compares the relationship between Archer Roose’s co-owners to the film “Fight Club.” Marian explains her desire to create a philosophy around a whimsical logo, how Elizabeth’s vision board helped her identify Archer Roose as a brand that “checked tons of boxes” for her and the importance of optimizing the drinking and pouring experiences. They also discuss Archer Roose’s steampunk aesthetic, how Elizabeth’s college thesis aligned with the brand concept and how doing the dishes at Marian’s house helped cement their friendship. Later, Marian explains how the Archer Roose attempts to incorporate Elizabeth’s personality and humor into its advertising, why they ask their lawyers for forgiveness for some content, the notion that there’s “nothing worse in business than not being able to deliver on your word,” and how they are attempting to change a consistently challenging industry dynamic. Brands in this episode: Archer Roose, Smartwater, Hendrick’s Gin

In this feature of our sister show BevNET and Nosh's Community Call, seasoned angel investors Nicole Bruno and Gefen Skolnick, alongside Ruth Berhane-Williams, founder of Eritea, who is actively exploring the angel investment landscape. Hear tips for identifying angel investors, understanding their preferences, and nurturing successful partnerships.

Call it the millennial/Gen Z effect. A retro aesthetic is the defining characteristic of modern package design as new brands incorporate the vibe and culture of decades past into product labels. But has the trend made it more challenging for emerging brands to stand out? Show notes: 0:35: Surfing With Turtles. Zen & Coffee. Exceptional Bounce. Broadway Hell. RoWater. — Mike recalls a reptilian adventure from his vacation, John notes Mexico’s war on sugar and his subsistence on ceviche, Ray’s pre-podcast meal is bereft of functional benefits and Jacqui reads from Urban Dictionary before a whiskey sampling of the rarest variety. With BevNET Live right around the corner, the hosts urge listeners to take advantage of an early registration discount, Jacqui talks about tickets for a hot theater show, Mike marvels at MISE and wonders about whether a famous “Shark” has a new water brand. The hosts rib Ray for his love of laserdiscs and collectively discuss virtues and challenges of modern package design. Brands in this episode: Tecate, Om Mushroom, La Crema, Justin, Trashy Chips, Graza, Tēthos Wine, Wineo, Not Beer, Budweiser, Liquid Death, Nature’s Garden, Kace Tea, Healtea, RxBar, Celsius

Venture capital firm BFG Partners invested in Mid-Day Squares when the brand’s founders were still hand crafting their functional chocolate bars in a Montreal apartment. BFG managing partners Tom Spier and Dayton Miller described their decision as “a leap of faith.” On the surface, it may seem like BFG, which has a track record of investing in high-growth companies, as a somewhat surprising move. But Tom and Dayton note that their evaluation of Mid-Day Squares was – as with every business they fund – based on four key criteria: people, product, brand and strategy. Established in 2014, BFG is focused on investments in better-for-you and sustainable brands seeking seed through Series B rounds of capital. The firm recently announced the activation of its third fund, which according to a February press release, has commitments “already approaching 70%” of its $125 million target size. Fund III follows ones valued at $54 million and $108 million, respectively.  BFG’s portfolio includes stakes in several food and beverage companies, including OLIPOP, Mid-Day Squares, Barnana, Athletic Greens, Caulipower and Graza. Successful exits include Chameleon Cold Brew, which was bought by Nestle in 2017, and Birch Benders, acquired by Sovos Brands in 2020. We sat down with Tom and Dayton at Expo West 2024 for an expansive conversation that dives deep into BFG’s investment strategy and includes their evaluation of fast-growing categories, how they assess gross margin in the near- and long-term lifecycle of a brand and what a polished pitch says about a founder. Show notes: 0:35: Tom Spier & Dayton Miller, Managing Partners, BFG Partners – Tom and Dayton reflect on the five years since their last appearance on Taste Radio, how they identify differentiated package design and why great taste is at the heart of a sustainable business. They also discuss mainstream opportunities for ethnic foods, how the founders of Mid-Day Squares got the attention of BFG via a cold Linkedin message, how they evaluated the potential for better-for-you soda before investing in Olipop and how they assess hype-fueled brands. Later, they explain their enthusiasm for some refrigerated and frozen brands despite supply chain and other challenges associated with the categories, what founders should include in their initial outreach and follow up, and engage in a rapid-ish fire word association about kids’ foods, dairy, candy/confection, beverage alcohol, plant-based meat, ultra-processed foods and cereal. Brands in this episode: Coyotas, Evol Foods, Fly By Jing, Mid-Day Squares, Obi, Olipop, SmartSweets, Oats Overnight

As expected, commerce reigned at the annual Coachella music festival, but which food and beverage companies stood out? We have a report. This episode also features conversation with Laura Merritt, the CMO of Diageo Beer Company, who discusses how Guinness’ non-alcoholic Zero variety is helping the brand cultivate a new generation of consumers. 0:35: A Sordid Past. Cat’s Milk. The Bramins. Jacqui’s Spirits. Robin’s Egg Blue. TB12 In 0.5 Sec. – Jacqui chats about personal pub culture before diving into her trip to Coachella and interactions with a handful of brands, including one that slyly promised “a good time.” The hosts briefly discuss Momofuku’s decision to abandon its trademark battle and the proper way to say “pecan,” two products that highlight a new era for cocktail culture, a game-changing package for condiments and, perhaps, the most beautiful color in the world. 32:36: Interview: Laura Merritt, CMO, Diageo Beer Company – Laura is the marketing lead for Guinness, the iconic brand best known for its draught Irish stout beer. We met with Laura at Expo West 2024, where Guinness was highlighting its Zero variety, a non-alcoholic beer brewed to approximate the classic taste, mouthfeel and color of the original liquid. In our interview, Laura spoke the reason Diageo brought Guinness to Expo West, why she compares the rise in consumer demand for non-alcoholic beer to that of a popular food trend, how its Zero variety gives the brand optionality and how the company is attempting to cultivate a new generation of Guinness consumers. Guinness' innovation strategy and how modern trends fit into its approach. Brands in this episode: Guinness, Lucky Energy, Poppi, Bitchin’ Sauce, Momofuku, Homiyah, This Little Goat, Archer Roose, Evolution Fresh, Pecana, Sayso, Gorgie, Mission Craft Cocktails, Haven’s Kitchen, Healtea, Ringa, Unreal, Heineken, Athletic Brewing, Seedlip, Ritual Zero

After 15 years at the helm of one of the most admired better-for-you brands in the food industry, Elizabeth Stein is happy to share. The founder and CEO of Purely Elizabeth, which markets natural and organic granola, cereal and oatmeal, Elizabeth has long been at the forefront of incorporating ancient grains, such as chia seeds, quinoa and amaranth, into products that are designed for mainstream consumers.  Since launching in 2009, Purely Elizabeth has gradually expanded beyond its roots in the natural channel and into conventional and mass retailers, including Publix, Target and Walmart. Consumer demand and consistent retail growth has attracted investors. In 2022, Purely Elizabeth announced the close of a $50 million Series B funding round, one that has fueled investment in marketing and product innovation. In this episode, Elizabeth joined us for an expansive conversation in which she shared lessons learned during her journey as food entrepreneur, including how she positioned Purely Elizabeth to stand out in a crowded category, what it means to create something that retail buyers perceive as unique and incremental to a category, her two most important considerations when raising capital, and the impact of hiring the "right" people. Show notes: 0:35: Elizabeth Stein, Founder/CEO, Purely Elizabeth – From the show floor at Expo West 2024, Elizabeth speaks about the impact of a well-crafted booth, why she never built her company to sell it and how ingredients, first and foremost, have helped differentiate Purely Elizabeth from other brands. She also discusses how package design that resembles a clean beauty product gives the products greater visibility on shelf, takeaways from launching brand and line extensions, how the company’s cookie granola was the first “proper process” for new product development and tips for cost-effective innovation planning. Elizabeth also shared lessons learned about raising capital and why she waited as long as she could before accepting outside investment, how to trust that investors will not replace you as leader/CEO of your company and the importance of reminding yourself about what makes you happy. Brands in this episode: Purely Elizabeth