Ghost’s $1 Billion Deal. What Are ‘Tomorrow’s Investors Looking For?

Innovative protein brands and proactive meetings. The hosts advocate for both in this episode, which also features an interview with Trey Zoeller, the founder of pioneering whiskey maker Jefferson’s Bourbon, a brand recognized by and awarded for its Ocean Aged At Sea expression, a whiskey matured on ships that travel around the world. Show notes: 0:25: Bag It. Face To Face > Email. Take A Minute. The Liver! Fridge Pop. Beard Scoby. – Less than three weeks away from BevNET’s winter events, Ray gets agitated while sharing some important travel tips and the hosts explain why meeting John Foraker in December should be on your agenda. They also introduce a new Taste Radio social series, enjoy a new kind of scent in the studio and sample several products from protein-centric brands, including ancestral meat snacks, peanut butter cookies, and mint chip-flavored shakes. Ray also highlights a new brand of macron pops and John tests out a new kombucha-inspired after shave. 28:41: Interview: Trey Zoeller, Founder, Jefferson’s Bourbon – Trey, who first joined us for an interview in 2020, talks about why the pairing of oysters and Jefferson’s Bourbon Ocean Aged At Sea expression works so well. He also discusses the origins of the uniquely matured whiskey and why the product was initially disparaged by his industry colleagues, and how Jefferson’s, which is known for its innovative approach to aging, maintains the cache and image of being a renegade while simultaneously being a widely distributed and popular brand. Brands in this episode: Daily Crunch, Once Upon A Farm, Fly By Jing, Country Archer, Russian River Brewing, Kombuchade, Hint, Grounded, LifeAid, H&H, Macarooz, Health-Ade, Dogfish Head, Love & Chew, Lenny & Larry’s, Jefferson’s Bourbon

Most Americans eat cold bread. Ismail Salhi and Johanna Hartzheim are changing that dynamic one loaf at a time. Ismail and Johanna are the founders of Wildgrain, a subscription-based service that ships boxes of par-baked frozen sourdough, pastries and hand-cut pasta to customers across the country. The married couple and business partners came to the U.S. after years of living in Paris and wanted to give people access to the same warm loaves of artisanal breads, flaky croissants and chewy dinner rolls they ate daily in France.  Wildgrain partners with local bakers across the U.S. to produce its products, which are made with no preservatives, no artificial flavors and no bleached flour. No thawing is required. Just a few minutes in the oven is all you need to make fresh, warm bread. Since Ismail and Johanna launched Wildgrain in 2020 at the outset of the Covid-19 pandemic, it has become one of the most successful food delivery companies in America generating $30 million in revenue last year and turning profitable.  How did Wildgrain achieve its position and why does the company’s trajectory continue to rise? The throughline has always been an extremely high level of customer service, according to Ismail, who we spoke with for an interview featured in this episode of Taste Radio. Show notes: 0:35: Ismail Salhi, Co-Founder, Wildgrain – Ismail talks about the growing number of artisanal bakeries in urban neighborhoods, including his own and why “the delicious window” makes all the difference when baking and buying bread. He also discusses he and Joanna’s decision to launch Wildgrain after shutting down their previous business, how they convinced a tech investor to buy into their new concept, and why they shifted focus after originally planning to build a vertically integrated company. Ismail also explains why being obsessed with your existing customer base is key to a subscription-based model, how Wildgrain has created a network of suppliers that provide consistent quality (if not taste), how they kept customers happy when things went wrong with deliveries early in the company’s development, and why customer service is embedded in Wildgrain’s marketing strategy. Ismail also talks about how the company achieved profitability three years after its launch, mitigating a potential plateauing of its subscription model and why Wildgrain doesn’t hire “until it’s painful.” Brands in this episode: Wildgrain, RXBAR, David, Lesser Evil, AG1

The world needs plant-based spam. Nootropic beverages will make a comeback in 2025. T-shirts are the best brand swag. It’s buy-or-sell time, and the hosts transact in opinions. This episode also features interviews with the leaders of two fast-growing U.K.-based CPG companies: Jack Scott, the co-founder of flavored sparkling water brand Dash, and Kathryn Bricken, the founder of Doughlicious, a brand of frozen cookie dough and gelato bites. Show notes: 0:25: No Results. We’re Available. Mindcraft. Un-Appealing. Brand Brush. Call It A Comeback. Like, Thanks. – Election Day has come and gone, but the hosts still don’t know who won. They will, however, be available to answer questions and make connections at BevNET’s Winter events. But before that, Ray needs a drop or two. Unmeat is on the plate, and not everyone is happy. Denim jackets might be the best gift you can give a customer (or member of the media) with toothbrushes coming in a close second. Mike urges everyone to back a coffee brand, salty snacks are all the rage, especially ones that taste like a turkey dinner, and a BFY gummy brand gets a big time partner. 37:33: Interview: Jack Scott, Co-Founder, Dash – Jack shares an introduction to Dash and discusses the company’s international distribution strategy, what he learned about the brand’s brief stint in the U.S. market and why hasn't it been a priority since, and why the American market is sometimes described as the "graveyard of so many British brands"   53:07: Interview: Kathryn Bricken, Founder & CEO, Doughlicious – Kathryn talks about the genesis of Doughlicious and why she chose to launch a frozen brand, how she assessed the timing and prepared for a U.S. launch, and how Whole Foods evaluated the brand and what gave its buyers confidence in its ability to succeed on its shelves. She also discusses Doughlicious’ national rollout at Target and how the company planned for a dramatic expansion in geography as well as a new retail channel and consumer base. Brands in this episode: Dash, Doughlicious, Mochi Love, NOOISH, CHUTNI PUNCH, Harken Sweets, Brune Kitchen Doosra, Apothekary, Heyday Canning Co., Belgian Boys, Nguyen Coffee Supply, Fly By Jing, Four Sigmatic, Magic Mind, Comeback Coffee, Like Air, Jones Soda, Once Upon A Coconut, Grounded Shakes, Pipcorn, Better Sour

Olivia Ferdi is obsessed with the details.  The co-founder of Trip, a U.K.-based brand of lightly sparkling functional beverages intended to help people relax, Olivia says that a passion for the particulars is a key reason why Trip is the fastest-growing soft drink brand in the U.K. and currently preparing for a major expansion of its retail presence in the American market. Trip debuted in 2019 and markets two product lines: one infused with CBD and adaptogens and the other, called Mindful Blend, is made with Lion’s Mane, ashwagandha, L-theanine and magnesium. The brand is sold in over 30,000 points of distribution across Europe and the U.S and its Mindful Blend line will be available nationally at three yet-to-be-announced retail chains beginning in the first quarter of 2025. In this episode, Olivia discusses how Trip’s philosophy of “product obsession” helped gave the company a fast start and keeps it building towards a more promising future. She also explains why “the customer is sacrosanct,” how the company is applying lessons from success in e-commerce to its brick and mortar business and why humility is key to its U.S. expansion. Show notes: 0:35: Olivia Ferdi, Co-Founder, Trip – Olivia and Taste Radio editor Ray Latif chat about the industry meetup hosted the evening prior to their conversation, before the entrepreneur talks about Trip’s sponsorship of a Dua Lipa surprise concert in London later in the day. She also discusses Trip’s partnership with the Calm app, why she and Daniel never intended to build Trip as a U.K. brand, and how their personal experience with CBD became a “blind passion” to create a brand as a way to give people access to the ingredient. Olivia also explains how Trip’s “customer first” strategy has set it apart, how its well-crafted label design allowed the company to avoid using paid media early on, how she’s attempting to avoid pitfalls in the U.S. and the one word that can help Trip become a household name. Brands in this episode: Trip, Brewdog, Sipsmith, Beavertown

Another episode, another billion-dollar deal. In this case, the buyer (KDP), if not the brand (Ghost), is somewhat surprising. The hosts have their say. They also highlight a couple spicy collaborations, but are divided on one of them. We also speak with Lexy Prosszer, an investment principal at U.K.-based venture capital firm Btomorrow Ventures, which is focused on investments in innovative, functional brands. Show notes: 0:25: Who Bailed Mike Out? Elektra x Nosh. Scary Deal. A Wonky Pad. Where’s My Order? Keep Crunching. – Mike made it out of the can in time for a big announcement about Nosh Live Winter 2024 and a deadline that won’t be extended. The hosts discuss KDP’s acquisition of Ghost Lifestyle and how it relates to the evolution of the energy drink category. They also pine for an LTO that pairs sprouted almonds and chili crunch but butt heads when it comes to a pickle juice-infused bloody mary mix. Mike recalls meetings and drinks with U.K-based entrepreneurs before he, Ray and John snack on “transportive” pecans and a holiday-inspired snack that your bubbe would love. 39:03: Interview: Lexy Prosszer, Investment Principal, Btomorrow Ventures – Ray sat down with Lexy during Taste Radio’s meetup at the Trip office in London, where she discussed Btomorrow Ventures’ investment strategy, how she assesses a brand’s potential for international distribution and success, and whether global trends influence how she evaluates brands. Brands in this episode: Moment, HOP WTR, Once Upon A Farm, Ghost, Celsius, Bang, Red Bull, Monster, C4, A Shoc, Rao’s, Coca-Cola, V8, Grillo’s, Ithaca Hummus, Fresca, Simply, Dash, Chili Maven, Living Things, Xoxo, Olipop, Poppi, Hiphop, Feisty Soda, Daily Crunch, Fly By Jing, Cleveland Kitchen, Karma Nuts/Cookies, Pulpito, Wanderlands, Knack Snacks, Babo’s Kitchen, S’Noods

Ben Branson is not the kind of person you’d find at a cocktail party. In fact, he loathes socializing. And, yet, he’s deeply invested in its future. Ben is best known as the founder of Seedlip, the pioneering nonalcoholic spirit brand that was at the forefront of the now burgeoning category of zero proof beverages.  In 2019, Ben sold a majority stake of Seedlip to beverage alcohol conglomerate Diageo, which, at the time, described the brand as “a global drinks giant of the future.” While Ben is still a shareholder in Seedlip and continues to operate as part of its team, he’s set his sights on the next stage of development for non-alcoholic beverages and cocktails via a new venture called Pollen Projects.  The U.K.-based company introduced two brands this year: Seasn, which markets premium cocktail bitters designed to be “the salt & pepper for drinks”; and Sylva, an innovative take on dark non-alcoholic spirits. Both brands are the heart of Ben’s mission to shape “the second wave of moderation,” helping people to drink and, in turn, socialize better. In the following interview, I spoke with Ben about his perspective on an evolving market for non-alcoholic beverages and his roles as both godfather and innovator, why he’s not trying to supplant legacy spirits and why he’s betting big on an unusual sourcing and production model. Show notes: 0:35: Ben Branson, Founder, Seedlip & Pollen Projects - Ben recalls his first appearance on Taste Radio in 2018 and reflects on his 11-year career in non-alcoholic spirits, including why he hated the first six months building Seedlip and what is motivating his work with Pollen Projects. He also explains why he doesn’t feel any “external pressure” as leader of the non-alcoholic category, but why he’s concerned about brands delivering the quality and flavors that consumers are expecting and how his success with Seedlip has made it somewhat easier to develop new brands. Ben also shares his perspective on legacy beverage alcohol brands launching zero-proof versions, common attributes among “the best” non-alcoholic brands and why some brands “are going to suffer.” He also talks about why he’s constantly focused on the future of socializing even though he describes himself as “unsocial.” Ben also discusses the creation and business strategy of Sylva, his unique approach to ingredients and sourcing and why he chose to market the NA dark spirits brand via a subscription model and how he evaluates investors and new funding opportunities. Brands in this episode: Seedlip, Season, Sylva, RXBAR, David

It turns out that superheroes and ‘saints’ enjoy beer and cocktails, particularly when the libations are of the non-alcoholic variety.  The hosts chat about actor Tom Holland’s foray into CPG with NA beer Bero, before riffing on an enlightening collaboration between an up-and-coming wine company and personal care brand. We also feature an interview with Megan Klein, the founder and CEO of Little Saints, an innovative brand of non-alcoholic cocktails infused with functional mushrooms, who recently appeared on “Shark Tank.” Little Saints markets several canned cocktails, including a Paloma, Negroni Spritz, Ginger Mule and Spicy Margarita, and also sells a mezcal-inspired spirit called St. Ember. While the products are primarily sold direct-to-consumer, the brand is carried nationally at Sprouts and rapidly expanding distribution at other retail chains.  Show notes: 0:25: It’s A Wrap. Save Money & Be The Best. Gold, Tom. Red Wine, White Teeth. Swiss Bourbon. Pita & Garlic. – Ray ties a bow on the hosts' recent visit to London and the hosts collectively encourage listeners to save money by registering for our Winter events TODAY and also nominate brands, people and products for our annual awards. They also comment on a handful of collaborations, including one between McBride Sisters wine and Colgate(!), a bourbon flavored by a well-known cocoa brand and a sparkling beverage company that’s working with a lauded baking partner. The hosts also share their take on Koia’s new kids’ drinks, spicy delights from a British brand with Mexican roots, low- and non-alcoholic spirits, and a new line of restaurant-style pita chips that pair perfectly with a new garlic-y condiment (just ask John). 32:59: Interview: Megan Klein, Founder & CEO, Little Saints – Megan discusses how her personal interest in better-for-you adult libations led to the creation of Little Saints. She also speaks about the brand’s unorthodox social media strategy, why dropping CBD from the products had a big impact on sales, why the company invests heavily in Meta ads, how Little Saints navigated a controversial issue and how she prepared for an appearance on the ABC business competition show “Shark Tank.” Brands in this episode: Little Saints, Trip, Cano Water, MUYU, Bero, McBride Sisters, Swiss Miss, Hotel Tango, Aura Bora, Magnolia Bakery, Koia, Chili Maven, Allora, Quarter Proof, Climbing Kites, Outrageous, Issa’s, Momofuku

Biena was at a crossroads. Five years ago, the brand’s popular roasted chickpeas were widely distributed at natural and conventional grocery chains, including Walmart, Whole Foods and Target, and the brand was making significant headway in travel retail stores. That year, Biena also completed an $8 million Series B funding round and launched an innovative line of chickpea puffs that helped establish the company as a snacking platform.  The pandemic, however, forced founder Poorvi Patodia to adjust its growth strategy. Biena was faced with declining margins and retail channels that were once promising but now unprofitable. Patodia had to make, in her words, “risky decisions.” Biena may have changed course, but its focus on financial fundamentals and mainstream consumer appeal helped the brand remain on a sustainable and long-term growth path. In this episode, Poorvi talks about how Biena navigated the challenging period and how a “build to win” philosophy influenced key decisions during the process. She also defines and explains the value of “true differentiation,” why the company is pursuing a dual platform strategy and shares her take on when founders should raise capital and how to identify distributors with aligned values. Show notes: 0:35: Poorvi Patodia, Founder & CEO, Biena — Poorvi talks about judging a pitch slam hosted by Naturally New England, Biena’s unexpected appearance in a Kristen Bell-led TV show, and why her family keeps her grounded amid the pressures of operating a food business. She also offers her take on PepsiCo’s acquisition of Siete and how differentiated brand attributes and mainstream appeal have been key to its success. Poorvi also discusses why Biena re-evaluated every approach and strategy associated with the business during a challenging time for the brand, the data and consumer insights that informed a new platform strategy, and why the company’s chip line is focused on functionality and calories versus ingredients. She also explains the importance of testing and learning in small ways, having enough cash on hand and why founders shouldn’t worry about margin when choosing a distribution partner. Brands in this episode: Biena, Siete, RXBAR, David

How do U.K. CPG brands compare to their U.S. counterparts? How do the two markets differ? On the ground in London, the hosts discuss their experience at last week’s Cheers! The Drinks Summit event and highlight innovative snacks and beverages they encountered at visits to local retail chains and specialty stores. Show notes: 0:25: What Day Is It? Possessive Peeve. Jacqui x Ox Heart. Club Soda. Irony, Sir. Magnesium FTW. Cosmo John. The Nuances & Inspiration. – Jet lag and full days make the hosts bleary-eyed, but they are somehow upbeat and alert. Ray questions the name of a well-known U.K.-based  grocery retailers before the hosts discuss notable drink brands and categories, including non-alcoholic analogs, magnesium waters, bottle soups and gut-health sodas. They also talk about the bustling Taste Radio meetup at The Lucky Saint pub and what U.S. brand owners can glean from business strategies of U.K.-based founders. The hosts also talk about BevNET’s upcoming live events and why “Ray Latif Live” is in the works. Brands in this episode: Trip, Quorn, Moju, Innocent Drinks, ISH, The Root Co., Vacay, OHMG, Better You, Bonbuz, Ghia, Little Saints, De Soi, Kettle & Fire, Re:Nourish, Brink, Whitebox Cocktails, Olipop, Poppi, Living Things, Minor Figures, Fibe, Belly Dance, Feisty Soda, Barcode, Lucky Saint, Dash Water, Doughlicious, Buff Bake, Knack-Snacks

How do you top a $600 million exit? If you’re Peter Rahal, you aim for one that’s four times bigger. Anything less, he says, would be a failure.  Peter is one of the co-founders of RXBAR, a platform brand of clean ingredient protein snacks created in 2013. Four years after the brand’s debut, it was acquired by Kellogg for the aforementioned nine figure sum. Earlier this year, Peter launched David, which is positioned as “a rigorously perfected protein bar.” Each bar contains 28g protein, 150 calories, and 0g sugar and is described as containing the most protein per calorie of any brand in the bar category. The products are sold direct-to-consumer for $15 for a 4-pack of each flavor, which include Blueberry Pie, Chocolate Chip Cookie Dough, Double Fudge Brownie, and Cake Batter. In August the company announced a $10 million seed funding round, led by Peter and including Valor Siren Ventures along with longevity expert and bestselling author Dr. Peter Attia and Stanford neuroscientist and podcast host Andrew Huberman.  In an interview framed as a series of true or false questions, Peter discusses his obsessive work ethic and leadership style and reflects on the business strategy and decisions that helped RXBAR scale rapidly, including the impact of investing in high quality packaging design and customer service. He talks about how to create “the best business strategy” and what he means when he says that happiness is “irrelevant.” Show notes: 0:35: Peter Rahal, Co-Founder, RXBAR & David – Peter explains why, despite having an introverted personality, he tries to be visible and accessible as a founder, whether he’s become comfortable with success and why he doesn’t necessarily believe that RXBAR’s success has to do with time and place. He also discusses his disdain for vacations, why he’s a proponent of “servant leadership,” why great packaging is the best form of marketing and why investment in customer service will always pay off. Peter also talks about why founders should strive to create accessible and affordable food and why they have to place a target on the bestselling brand in their brand’s category and why his investment strategy hinges on a founder’s tenacity and mindset. Brands in this episode: RXBAR, David