Taste Radio

Investors often say that they evaluate a company's potential based on business fundamentals, such as gross margin, retail velocity and brand awareness. As much as anything, however, personal alignment with entrepreneurs in terms of character, vision and demeanor is core to the investment philosophy of Manna Tree Partners. A private equity firm whose stated mission is "to invest in the future of human health," Manna Tree holds stakes in 11 companies, several of which were represented at its inaugural Global Health Forum in March, which focused on the future of longevity through food and nutrition. During the conference, we sat down with Manna Tree's three co-founders and three portfolio company entrepreneurs to examine the origins and development of their relationships. The conversations revealed how their personal friendship established a baseline for trust and helped create positive outcomes for each of the companies. The conversations paired Manna Tree CEO Ellie Rubenstein with Dana Ehrlich, the founder and CEO of leading grass-fed beef company Verde Farms; Manna Tree CIO Ross Iverson with Daina Trout, the co-founder and chief mission officer of gut-health-centric beverage brand Health-Ade; and the firm's president Brent Drever with Viraj Puri, the co-founder and CEO of indoor greenhouse pioneer Gotham Greens. Show notes: 2:27: Ellie Rubenstein, CEO, Manna Tree Partners and Dana Ehrlich, Founder/CEO, Verde Farms – Rubenstein discussed the focus of Manna Tree's Global Health Forum and why it was hosted in Vail, Colorado, Ehrlich spoke about the origins of Verde Farms and his personal connection to grass-fed beef and both spoke about how an initial meeting made it apparent that Manna Tree was the right partner for the company, which had previously spurned outside investment. They also discussed how the private equity firm helped Verde establish a dedicated board of directors and management team and how Rubenstein evaluated Verde as a category leader that could help deliver on Manna Tree's overarching mission. 27:28: Daina Trout, Co-Founder/Chief Mission Officer, Health-Ade and Ross Iverson, CIO, Manna Tree Partners – After noting that the interview marked Trout's third appearance on Taste Radio and Iverson's second (yet, first IRL), the Health-Ade co-founder spoke about the shift in her day-to-day role, while Manna Tree's CIO explained why he's happier with the company's expanded vision following the firm's investment in August 2021. Trout explained how she and Health-Ade's leadership team identified Manna Tree as a potential investor and why she described the relationship as "a special connection," why Trout is confident that Manna Tree will help maintain the integrity and quality of Health-Ade products and how Iverson evaluates the growing opportunities for better-for-you sparkling beverages and kombucha. 53:09: Brent Drever, President, Manna Tree Partners and Viraj Puri, Co-Founder/CEO, Gotham Greens – Drever spoke about the speakers and panels at Manna Tree's Global Health Forum before Puri expounded upon Gotham Greens' recent announcement that the company would be doubling its indoor greenhouse capacity. The investor then discussed Manna Tree's investment in Gotham Greens, beginning with the firm's evaluation of the indoor greenhouse industry and why he was impressed by the company's brand, unit economics and vision for expansion. They also shared how they built a relationship during the first four months of the pandemic beginning with a face-to-face meeting in Chicago that was instrumental in establishing a foundation for their relationship. Puri explained why he was impressed by Manna Tree's "rigorous" due diligence process and global network, how Drever assessed Gotham Greens' potential for international expansion, how both consider technology and sustainability as part of the company's growth strategy, and the flexibility of its exit strategy. Brands in this episode: Verde Farms, Vital Farms, Johnsonville, Health-Ade, Gotham Greens, The New Primal

Clearly, "if it ain't broke, don't fix it," is an adage that doesn't apply to TCHO Chocolate. Launched in 2005, the Berkeley, Calif.-based company has been at the forefront of chocolate innovation by emphasizing sustainable and ethical sourcing as a key metric of quality. Over the years, TCHO has developed a cachet that is rare among consumer brands, winning awards for its commitment to sourcing standards, flavors and package design. Given its standing and success, why did the company recently introduce massive changes in the formulation and branding of its chocolate? For TCHO's chief chocolate maker Brad Kintzer, it all goes back to the company's overarching mission of supporting its sourcing partners and making better chocolate. In an interview featured in this episode, Kintzer spoke about TCHO's evolution as a company and brand, having committed to using plant-based ingredients for all of its chocolate and overhauled its familiar packaging in December. He also discussed his role in the development of TCHO as leading brand of premium chocolate, how the company defines "better" when evaluating progress, why he is inspired by and has a deep admiration for winemaking and how the company assessed the right timing for unveiling its new look. Show notes: 0:48: Brad Kintzer, Chief Chocolate Maker, TCHO – Kintzer and Taste Radio editor Ray Latif riffed on the former's shrouded social media presence, particularly on Instagram, the origins of TCHO and how the company incorporates technology into sourcing and production. Kintzer also discussed how cutting his teeth in the maple syrup business led to an interest in cacao and eventually chocolate, what he learned from his time working at The Hershey Company and what the history of wine has taught him about how to make better chocolate. Later, he explained why constant improvement and learning is critical for the company's future, the multi-year process of reformulating TCHO's products, the consumer research that was – and wasn't – applied to the new branding and why TCHO is always striving to be an excellent brand, if not a big one. Brands in this episode: TCHO, Scharffen Berger, Hershey's

In this episode, Taste Radio's hosts discussed new products in several food and beverage categories, including a nootropic-boosted hydration drink brand launched by an NFL star and NFT icon, a nostalgia-inspiring cinnamon spread, RTD milk teas and spiked tonics, artisanal and low-sugar sweets and perhaps the best-tasting tortillas on the market. They also riffed on recent work travel, this weekend's Specialty Coffee Association trade show and a major funding round for a platform brand of experimental condiments and beverages. Show notes: 0:37: Come To Our Open House. Jacqui Is A Camogie Champion. Ray Doesn't Ski. And Gluten Is One Of The Tastiest Things In The World. – The show opens with a chat about Jacqui's prowess in a sport called Camogie, Ray's recent visit to Vail, Colorado, where he attended a business conference focused on the interaction of health, food and nutrition and a call to entrepreneurs and industry executives to register for tickets to an open house at BevNET HQ later this month. The hosts also offered their take on the launch of "Local Weather," encouraged listeners to register now – and save money – for the BevNET Live and NOSH Live Summer 2022 conferences and spoke about why gluten-free products should no longer taste like… gluten-free products. Later, they talked about new tea and treats to hit the market and why we're loving canned wine these days. Brands in this episode: Gotham Greens, The New Primal, Verde Farms, Health-Ade, Cinnamon Toast Crunch, Nomadica, Acid League, Local Weather, Beckon Ice Cream, Shire City Herbals, St. Hildie's Spiked Tincture Tonics, Vista Hermosa, The Greater Knead, Twrl Milk Tea, Half Day Tea Tonics, HighKey, Snickers, Twix, Gigantic Candy

Grocery ecommerce is booming. Amid a pandemic-fueled shift in consumer shopping behavior, the industry has grown to $122 billion in annual sales, according to research firm eMarketer. Over the past two years, dozens of grocery delivery startups have entered the market while existing services, including California-centric retailer Good Eggs, have expanded operations. As grocery delivery platforms jostle for market share and attempt to differentiate themselves, Good Eggs has focused on high standards for sourcing and sustainability. Launched in 2011, the company has raised nearly $200 million in funding to date, including a $100 million round in February 2021. In the months since, Good Eggs has expanded operations beyond the Bay Area while growing revenue to $100 million, hiring over 400 new employees and nearly doubling its customer base, according to a press release. In February, Good Eggs expanded service to Los Angeles and Orange County as it attempts to build upon its reputation as an ultra-high quality grocery option. Leading the charge is Bentley Hall, who came on board as CEO in 2015 amid a period of turmoil for the company and was tasked with realigning Good Eggs' operational strategy with its initial vision. In an interview featured in this episode, Hall spoke about how he led the turnaround by focusing on its customers along with a highly-curated selection of products. He also explained how Good Eggs articulates quality and its process for vetting and adding new brands to its service. Show notes: 0:34: Bentley Hall, CEO, Good Eggs – Hall spoke with Taste Radio editor Ray Latif about Good Eggs' recent expansion into Southern California, how he assessed the company's problems in 2015 and how he evaluated platforms and technologies when mapping out its growth strategy. He also discussed the three types of customers that use Good Eggs, the research the company undertakes to better understand shoppers' needs and its efforts to support employees via above-market compensation and other benefits. Later, he explained which product attributes matter most to its customers, how speed of delivery factors into Good Eggs' business strategy and how restaurateur Danny Meyer influences the company's operational mindset. Brands in this episode: Harry's Berries

This week, we explored the ideation, business plans and growth strategies of three innovative and on-trend brands in conversations with Susan Buckwalter, the co-founder and CEO of ginger-powered wellness brand Recoup; Dr. Juan Salinas, the founder and CEO of P-nuff Crunch, a brand of nutritious baked peanut puffs; and Michelle Razavi and Nikki Elliott, the co-founders of functional, decadent snack brand ELAVI. Show notes: 1:02: Interview: Susan Buckwalter, Co-Founder/CEO, Recoup – Taste Radio editor Ray Latif sat down with Buckwalter at Natural Products Expo West 2022 where they spoke about how Recoup has made strides in the two-plus years since its launch and found a receptive audience among consumers seeking alternatives to traditional sports and hydration beverages. As part of the conversation, Buckwalter discussed how her co-founder's personal health battles inspired the brand, how their respective backgrounds supported their alignment as a team and how Recoup set out to create a foundation for success. She also explained why leaning into both flavor and function has supported trial and sales and why she encourages entrepreneurs to build and engage with a network of like minded founders. 26:01: Interview: Dr. Juan Salinas, Founder/CEO, P-nuff Crunch – Also at Expo West 2022, Latif sat down with Salinas, who spoke about how he drew upon his education in food science and sport nutrition and as a project manager with global food companies including Kraft Foods and Nestlé to develop P-nuff Crunch. Salinas also discussed how the brand gained national attention in 2020 following his memorable appearance on "Shark Tank," where P-nuff landed investment from Mark Cuban. Further topics include communicating the benefits of its key ingredients to consumers, why he's bullish about brick-and-mortar retail despite the brand's strong ecommerce sales and why he wants the company to be known for nutrition, first and foremost. 50:36: Interview: Michelle Razavi and Nikki Elliott, Co-Founders, ELAVI – Razavi and Elliott spoke with Latif at Expo West 2022 about the underpinnings of ELAVI, which is presented as a brand of "functional, decadent snacks to boost energy, recovery, and focus." ELAVI markets a line of collagen protein bars and a new line of superfood cashew butters that are similarly positioned and described as "protein frosting." Razavi and Elliott discussed how their work as Equinox fitness instructors supported their vision for a modern protein company, why they sought to position ELAVI as a "luxe brand," why video has been a key medium for communicating with consumers and why patience and taste were critical factors prior to launching the nut butters. Brands in this episode: Recoup Beverage, P-nuff Crunch, ELAVI, Gatorade, Powerade, Taika, Hella Cocktail Co., Hoplark, Asarasi

Our latest episode features interviews with two innovators in their respective industries: Stephen Caldwell, the co-founder of Swiss Rosti, a unique brand of stuffed potato and cheese bites; and Brent Elliott, the master distiller of acclaimed bourbon brand Four Roses. The Taste Radio team also discussed notable brands from the 2022 Seafood Expo, weekly Web3 primers on Twitter Spaces and a sophisticated smoker. Show notes: 0:55: Expo, Expo, Expo! Craven Chats, Toodaloo & Clio. And, Of Course, Clouds For Cocktails. – The hosts encouraged listeners to check out BevNET & NOSH's Expo West 2022 content and asked attendees and exhibitors of the upcoming 2022 Specialty Coffee Expo to connect with the team before the event. Ray discussed his experience attending the 2022 Seafood Expo North America and highlighted two sustainable brands that exhibited at the show and John spoke about his weekly Web3/NFT forums on Twitter Spaces. Later, the hosts riffed on tasty snacks and beverages to cross their respective desks in recent weeks and offered their take on the stylish Studenglass Gravity Beverage Infuser. 23:22: Interview: Stephen Caldwell, Co-Founder, Swiss Rosti – Caldwell sat down with Taste Radio editor Ray Latif at Natural Products Expo West 2022 where he spoke about the origins and development of his first-to-market brand of hand-held crispy filled potato snacks, which are sold nationally at Whole Foods and are also available at Kroger, Gelson's and Safeway locations. He also discussed how the company's initial business plan, which was heavily reliant on in-store demos, shifted amid the pandemic, and how an unexpected lift from direct-to-consumer television platform QVC drove trial and sales and why he's bullish on foodservice and a new cheese-based line. 45:05: Interview: Brent Elliott, Master Distiller, Four Roses – Elliott spoke with Latif about Four Roses' renaissance which began in the mid-1990's, the usefulness of training as a chemist, aligning innovation with the brand's standards for quality and consistency and his take on RTD cocktails and non-alcoholic spirits. Brands in this episode: Swiss Rosti, Four Roses, Dream Pops, Scout Canning, Neptune Snacks, Toodaloo Snacks, Shaman Raman, Up To You Recover Drinks, Wet Hydration, Maxine's Heavenly, Clio Snacks, Brune Kitchen

When Sandro Roco launched Asian-inspired sparkling water brand Sanzo in 2019, the naysayers had plenty to say: "This is a niche idea. It's not a scalable brand. The products won't resonate among mainstream consumers." Three years and multiple retail, marketing and funding wins later, however, those comments are becoming increasingly rare. A brand that aligns growing consumer interest in clean ingredient beverages and that of Asian culture and cuisine, Sanzo's zero-calorie and zero-sugar seltzers are flavored with fruits commonly consumed in Asian countries, including lychee, Yuzu lemon and calamansi. The concept aligns with growing consumer interest in both clean ingredient beverages and Asian culture and cuisine, which has been validated by what the company describes as "a rabid fan base" and a retail footprint of over 2,000 locations, including at Panda Express and nationally at Whole Foods. Last year, Sanzo landed a major deal with Disney's Marvel Studios to release four limited-edition cans featuring characters from the movie "Shang-Chi and The Legend of The Ten Rings." The brand's momentum propelled a $10 million Series A funding round that the company closed in February. In an interview featured in this episode, Roco spoke about the origins of Sanzo, including the inspiration for its name, formulation and focus, and how he's attempting to "own" a space within the sparkling water category similar to that of other ethnic water brands. He also discussed the keys to building and leveraging a cult following and why the comprehensive process required to become a certified minority owned brand was worth the time and effort. Show notes: 0:43: Sandro Roco, Founder & CEO, Sanzo – Roco spoke with Taste Radio editor Ray Latif at Natural Products Expo West 2022, where they chatted about the entrepreneur's fast-paced life before discussing the origins of the Sanzo name and his professional career prior to launching the company. He also explained the impact of chef/entrepreneur David Chang on his decision to start a beverage brand, how he identified addressable white space in the sparkling water category and why he disputes depictions of the brand as having an overly narrow focus. He also discussed how the partnership with Disney came together, why he stresses the importance of "getting it right with one community, one tribe" and how Sanzo has benefited from retailers' interest in supporting BIPOC-owned brands. Brands in this episode: Sanzo, Fly By Jing, Omsom, Nguyen Coffee, Aura Bora, LaCroix, Perrier, Topo Chico, San Pellegrino

He's a football legend who won three Super Bowls while playing for one of the world's most storied sports franchises and is currently one of the NFL's most recognized broadcasters. Yet Troy Aikman believes his fame won't be the decisive factor if his new beer brand is to succeed. Aikman is the co-founder of Eight Beer, a new low-calorie beer brand designed for active consumers. Brewed with organic grains, Eight is formulated with no adjuncts or sugars and contains 90 calories and 2.6 grams of carbohydrates per 12 oz. can. The brand launched in February and is currently distributed at bars and restaurants in Texas. Although Eight enters a light beer segment dominated by conglomerates and established brands, Aikman is nevertheless optimistic about its potential, and not because of his celebrity appeal. Instead, Aikman pointed to growing consumer demand for high quality products and Eight's leadership team, which includes several longtime beer industry veterans and brand executives, as the keys to the company's business strategy. In an interview featured in this episode, Aikman spoke about his interest in the light beer category, how he's incorporated learnings from past business ventures into the company, how he prepared himself to become a beer entrepreneur and why he says that he's not concerned with failure. This episode also includes the second installment of "The Maxi Minutes," a series of short conversations with Maxine Kozler Koven, the co-managing director of Los Angeles-based investment firm LDR Ventures. The series offers an investor's perspective on news, trends and issues shaping the food and beverage industry. Show notes: 0:56: Troy Aikman, Co-Founder, Eight Beer – Taste Radio editor Ray Latif ribbed Aikman on his first two Super Bowl wins before discussing how the football icon assesses business and investment opportunities and why he decided to launch a beer brand instead of aligning with an existing one. He also explained how he and his co-founders assembled a team of experienced beer professionals, why communicating the better-for-you attributes of Eight is critical to its success and why he would be comfortable limiting distribution of the brand to Texas for as long as possible. 25:24: The Maxi Minutes with Maxine Kozler Koven – Koven spoke with Latif about how investors consider rates of return when evaluating funding opportunities and shared her thoughts on the wild world of NFTs, particularly their impact as a marketing and revenue driver for consumer brands. Brands in this episode: Eight Beer, Shaka Tea, King's Hawaiian

On the ground in Anaheim for Natural Products Expo West 2022, the Taste Radio team reflected on a pulsating first day at the annual trade show, which returned live for the first time since 2019. They also commented on notable brands and products exhibited in the event's bustling North Hall and Fresh Ideas Organic Marketplace Tent, including innovative plant-based, probiotic and savory sips and snacks. Show notes: 0:25: We Have A TikTok House. It's Really Bacon, Right? Yes, There's A Drinkable Kimchi. – The team explained why their Airbnb's back patio would be a perfect backdrop for TikTok videos, reflected on the palpable energy and excitement felt in the aisles at Expo West and talked about why the event was a useful platform for both booth and "backpack" exhibitors. They also gushed about an upstart chocolate brand and a couple early-stage and innovative beverage companies, why a plant-based bacon threw everyone for a loop, Jacqui's review of a vegan caviar and which two functional drink brands are now leaping into the growing pool of pops. Later, they chatted about a striking new line of probiotic beverages, a mouthwatering ube spread and a preview of things to come from GT's Living Foods. Brands in this episode: Super Coffee, Happy Moose Juice, Doozy Pots, Sir Owlverick's Coffee, Bon AppeSweet, Wildwonder, Waju, Avafina Organics, Planterra Foods, Joolies, Whisps, De La Calle, Vina, Teaonic, Vive Organic, Spindrift, Mother In Law's, Sana, Savorly, Qula, Xicama, Fila Manila, Little Green Cyclo, GT's Living Foods

Shire City Herbals was in need of a reset. Founded in 2011, Shire City Herbals is a maker of wellness tonics and best known for its flagship fire cider. Despite building a loyal customer base and broad retail footprint, Shire City seemed to be regressing in recent years. Between a costly and headline-grabbing lawsuit and a disorganized retail strategy, Shire City was mired in missteps and missing opportunities to grow. Kim Allardyce, who had joined the company in 2017, was well aware of the problems but also the potential of Shire City. The solution, she believed, was an emphasis on professionalization. Shire City had been in perpetual startup mode and needed to establish new guidelines and guardrails for the business, particularly amid changes in the retail landscape for food and beverage. In an interview featured in this episode, Allardyce who took the reins as CEO in January of 2021, spoke about how she assessed Shire City's biggest issues, the importance of and challenges in winning over the company's founders and stakeholders when advocating for change and how a refocused retail strategy meant millions in new online sales. This episode also features an interview with Vittorio Marzotto, the director of business development for Santa Margherita USA. Representing the fourth-generation of Santa Margherita, the leading pinot grigio brand in the U.S., Vittorio chronicled the brand's history and impact of his great-grandfather's efforts to build a sustainable agri-business in post-World War II Italy. He also discussed how Santa Margherita, which recently celebrated the 60th Anniversary of its pinot grigio, has modernized its messaging to reach new consumers and how the company plans to continue upon its legacy via innovation and acquisition. Show notes: 1:04: Kim Allardyce, CEO, Shire City Herbals – Allardyce joined Taste Radio editor Ray Latif at BevNET headquarters where they recalled attending a Red Sox game with "The Beverage Whisperer," her first role with Shire City and how a multi-year trademark drained the company of time and resources. She also explained how she analyzed the performance and potential of the company and brand, unraveling an unproductive retail deal, why becoming Amazon-savvy was of critical importance and why the timing was right to step into the CEO role. Later, she discussed the importance of setting roles and responsibilities, what she envisions for the brand's future and why she might not be the right person to run the company down the line. 30:41: Vittorio Marzotto, Sr. Director of Business Development, Santa Margherita USA – Marzotto spoke with Ray about a major milestone in his life along with those of the Santa Margherita, how his great-grandfather implemented his vision for a sustainable agri-business focused on produce and his novel approach for vinifying pinot grigio grapes. Marzotto also discussed how the company has attempted to educate consumers about quality vs. prices it relates to pinot grigio, the evolution of the brand's marketing and what Santa Margherita's recent acquisition of Oregon's ROCO Winery portends for the company. Brands in this episode: Shire City Herbals, Santa Margherita