![]() If they went to a co-packer, the first thing the co-packer would say is, ‘Sure, I’ll make you some oat bars, but I’m not going to make them like that, I’ll cold extrude them and put them through a tunnel oven, and they would taste like a Quaker chewy bar.’ “ If someone were to compete with us, they would have to go out and hire 100+ people and spend a lot of money on ovens. While making oat bars isn’t rocket science, the Bobo’s brand is defensible, he observed. I do not believe that they will be eating RXBARs’ But our continued growth requires some capital as it’s not until 2020 that we anticipate achieving profitability.” ‘My grandchildren will be eating Bobo’s. “This round funds the expansion of our new bakery in Loveland, Colorado, which opened in January, and will give us the ability to double our capacity. He added: “2018 was a fantastic growth year, and a very stressful year, because we came up on our capacity faster than we anticipated. I do not believe that they will be eating RXBARs.” ‘A maniacal focus on margins’īobo’s baked oat bars are now in 16,000+ stores across the US, with sales growing 70% in 2017, 45% in 2018, and an anticipated 40% in 2019, said McIntyre, who headed up the natural brands division at Boulder Brands before joining Bobo’s in January 2016, and brought with him a “ maniacal focus on margins .” “Our products stand the test of time.” Put another way, he said, “ My grandchildren will be eating Bobo’s. “ Consumers are enduring products because of their Nutrition Facts statement, absence of sugar, grams of protein and so on,” he argued.īut jumping on nutritional or dietary bandwagons from Paleo and Keto to CBD – which can deliver short-term spurts of growth - is not what helped category gamechangers such as Kind bar strike CPG gold, he observed.Īt base, consumers love Bobo’s products because they are simple, wholesome, and satisfying, and truly deliver on taste, he claimed. “Aside from Kind bars, the nutrition bar category doesn’t taste good,” said TJ McIntyre, who was speaking to FoodNavigator-USA after raising $5.5m in a Series B1 round led by Boulder Food Group (BFG), and supported by Ridgeline Ventures and BIGR Ventures. Emulsifiers, stabilizers, hydrocolloids. ![]() Chocolate and confectionery ingredients.Carbohydrates and fibers (sugar, starches).Plant-based, alt proteins, precision fermentation.
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