Food & Beverage Talk by Morgan & Westfield

Show Summary: This episode focuses on an AI agri-tech startup aimed at helping the produce industry increase profitability and sustainability. David Kat discusses how Neolithics’ technology allows for non-destructive testing of fruits and vegetables to assess quality and taste without damaging the produce. The technology aims to align the interests of all players in the food value chain, significantly reducing waste, saving growers, distributors, and consumers money, and ensuring that high-quality produce reaches consumers. View the complete show notes for this episode. Want To Learn More? Food and Beverage M&ATop 5 M&A Value Drivers for Tech & Software CompaniesA Guide to Valuing Tech, Software & Online Businesses Additional Resources: Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your BusinessAcquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Jonathan Gardner, a seasoned deal maker with extensive experience in strategic sourcing, discusses the importance of relationships and value-add services in the food and beverage industry. He shares insights from his tenure at Starbucks, Dell, and GM; stresses the significance of leveraging technology, such as AI and machine learning, to enhance procurement processes and improve cost savings; and underscores the importance of making procurement conversations more contextual and strategic. View the complete show notes for this episode. Want To Learn More? Food and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery BusinessM&A UniversityArt of the ExitAcquired Additional Resources: Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your BusinessAcquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Geoff Coltman, Senior VP at Catena Solutions, discusses M&A integration in the food and beverage sector. He emphasizes the importance of understanding the human element and the “why” behind decisions. Geoff highlights the challenges of maintaining regular communication and the need for open communication and partnership with organizations to ensure successful change management. He also discusses the importance of starting with the end goal in mind and ensuring alignment and communication throughout the integration process. View the complete show notes for this episode. Want To Learn More? M&A UniversityArt of the ExitAcquiredM&A Basics: Building a Sellable Business Additional Resources: Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your BusinessAcquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: For this episode, withhold judgment on genetic engineering and listen to this hands-on, honest look at the benefits of GMOs and genetic engineering. Dr. Zack Abbott is a microbiologist and pioneer in the world of genetic engineering with the world’s first genetically engineered probiotics. He is on a mission to elevate the conversation about GMOs, diving into how the human microbiome can help build and sustain health and what the future holds for engineered probiotics. View the complete show notes for this episode. Want To Learn More? Top 5 M&A Value Drivers for Tech & Software CompaniesDo Buyers of Businesses Pay for Potential? Additional Resources: Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your BusinessAcquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Rich Kottmeyer, investment banker and food and agriculture turnaround specialist shares his extensive knowledge of M&A activity and growth potential in the food and agriculture industry. This complex industry is experiencing fundamental changes driven by consumer preferences, technological advancements, and global conflicts. This is leading to new avenues for investments, and multiples ranging from 5-30 times EBITDA across different sub-sectors in the food and agriculture markets. View the complete show notes for this episode. Want To Learn More? Food and Beverage M&A OverviewThe Importance of Preparing for Due DiligencePredictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions Additional Resources Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your BusinessAcquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Marc returns to discuss the twists and turns you can expect as an entrepreneur. Early in 2020, Marc was ready to sell his company for a whopping $80 million, but then COVID hit, and the deal died. In this episode, Jacob and Marc discuss the interesting journey he has taken since then, a journey that includes a merger, an acquisition, an oversight with large repercussions, and a brand-new business. View the complete show notes for this episode. Want To Learn More? M&A Due Diligence | Checklist & OverviewM&A Closing Process | A Complete GuideM&A Non-Compete Agreement | A Complete GuideCulture, Cash, and Cannabis: Lessons from a Serial Entrepreneur Additional Resources: Selling your business? Schedule a free consultation today.Download The Art of The Exit: The Complete Guide to Selling Your BusinessDownload Acquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueDownload Food and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

View the complete show notes for this episode. Let’s talk spirits in this engaging discussion of all things whiskey. Charlie Rodman, a venture capitalist and whiskey expert, shares his knowledge of the spirits industry, emphasizing the importance of finding the right product for every individual. He discusses the intricacies of whiskey distillation, including grain sourcing and maturation in oak barrels, the future of the industry, the emergence of craft distilleries with innovative new brands, and adapting to evolving consumer preferences. What You’ll Learn About the Industry: The whiskey industry is diverse, with a wide range of flavors and styles to suit different consumer preferences.About the Marketplace: Heirloom grains and contract distillation are emerging trends that are shaping the whiskey industry and the rise in craft distilleries.About Consumers: The alcohol industry is evolving, with younger consumers exploring alternatives like non-alcoholic options and cannabis-infused products.About Opportunities: Breaking into the whiskey market can be challenging due to regulatory hurdles, but there are opportunities for innovative brands to differentiate themselves. Want More? Related Resources: Food and Beverage M&A Industry TrendsFood and Beverage M&AM&A Basics | Why Do Business Owners Sell Their Business? Additional Resources: Planning to sell your business? Schedule a free consultation today.Download a free PDF copy of The Art of The Exit: The Complete Guide to Selling Your Business, Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue, and Food and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.Purchase your copy now of A Beginner’s Guide to Business Valuation | The Exit Strategy Handbook | Closing the Deal Listen to Other Episodes Alcohol and the F&B Industry – A Global Perspective with Alain BarbetCannabis Drinks – The Latest Craze in an Evolving Market with Paulo SobralThe Art and Science of Building a Spirits Brand for Acquisition with Guillaume Thomas

View the complete show notes for this episode. “If you build it, they will come” is an expression that applies to starting a company as well as a baseball field. Thinking about what buyers want and avoiding the pressure to sell in a specific timeframe can help you increase your company’s value when the time comes to sell. With 25 years in M&A in the wine and spirits industry, Guillaume Thomas helps sellers understand what buyers look for in a consumer brand. He also shares how he has used these same lessons to start his own company, which has grown out of his four-generation family cognac business. What You’ll Learn Branding: How to build a consumer brand with long-term value and growth potential in mind in the age of social media and influencers.Exit Planning: How planning for the eventual sale of a business can impact growth, including what the drivers are behind multiples and how they change specifically in the spirits industry.Valuation: The importance of realistic valuations, the impact they have on negotiations, and why it is critical to understand the buyer’s motivations.Sales and Marketing: Focus on building brand loyalty with customers and end consumers since the reorder rate is a critical metric in consumer goods for strategic buyers. Want More? Related Resources: Selling a Business: A High-Level OverviewBusiness Valuation Basics: 9 Critical Concepts to UnderstandBusiness Exit Plan & Strategy Checklist | A Complete GuidePreparing Financial Statements When Selling a Business Additional Resources: Planning to sell your business? Schedule a free consultation today.Download a free PDF copy of The Art of The Exit: The Complete Guide to Selling Your Business, Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue, and Food and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.Purchase your copy now of A Beginner’s Guide to Business Valuation | The Exit Strategy Handbook | Closing the Deal Listen to Other Episodes You’ll Never Get Pricing Right, But How Can You Get Better with Mark StivingThe Emotional Rollercoaster of Buying or Selling a Business with Drew BispingFinancial Due Diligence – Why It’s Important to Prepare for the Sale of Your Company with Patrick O’ConnellTop Criteria a Corporate Acquirer Looks for in an F&B Company with Ben Cosgrove

View the complete show notes for this episode. What You’ll Learn M&A Evolution: Learn about the M&A transactions that resulted in the formation, growth, sale, and reformation of two multi-million dollar companies.ASME Certification: Insights into the challenges involved in working with international suppliers and the importance of confirming valid certification. Cannabis Industry: An overview of the layers of the cannabis industry and its evolution, from manufacturing through to consumer sales.Corporate Culture: How the culture of a company can be organically grown and fostered through the hiring process to bring passion to the workplace. Want More? Related Resources: Crossroads: Deciding to Sell Your Business vs. Doubling DownWhy do Companies Acquire Other Businesses?Business Valuation: A List of Factors to Consider Additional Resources: Planning to sell your business? Schedule a free consultation today.Download a free PDF copy of The Art of The Exit: The Complete Guide to Selling Your Business, Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue, and Food and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.Purchase your copy now of A Beginner’s Guide to Business Valuation | The Exit Strategy Handbook | Closing the Deal Listen to Other Episodes Cannabis M&A – The Highs and Lows of an Emerging Market with Charles AlovisettiA Buyer’s Perspective — Why the Human Side is More Important Than Money in M&A Transactions with Austin KingHow Your Employees Can Impact the Value of Your Business with Marco RobertEverything You Want To Know About the Cannabis Industry with Nick BrandisCannabis Drinks – The Latest Craze in an Evolving Market with Paulo Sobral

View the complete show notes for this episode. What you’ll learn: F&B Oversight:Innovation:Due Diligence:Preparation: Want More? Related Resources: Food and Beverage Industry Trends Food Industry Statistics and M&A: Food Industry Trends that can Affect M&A Activity How To Maintain Confidentiality When Selling Your Business Tips on Preparing Your Business for Sale Additional Resources: Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your BusinessAcquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.A Beginner’s Guide to Business ValuationThe Exit Strategy HandbookClosing the Deal Listen to Other Episodes: Complexities of Managing the F&B Supply ChainAn Inside Look at What a Middle-Market F&B Buyer Looks ForThe Art & Science of Selling a Mid-Sized Business

View the complete show notes for this episode. Connecting with consumers is key to building effective product positioning. Kathy Guzmán Galloway offers expert advice on how to identify and avoid three major pitfalls to branding and positioning an F&B product. She discusses effective branding, establishing a strong identity, fostering memorable brand name recall, and connecting with consumers on an emotional level. The challenge of brand positioning is never done, but you can evolve with your consumers and stay front and center on the shelves. What you’ll learn Learning About Your ConsumerEffective ResearchKnowing What Makes You DifferentBrand Promise Want More? Related Resources: Crossroads: Deciding to Sell Your Business vs. Doubling DownShould I Sell My Business? Additional Resources: Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your BusinessAcquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.A Beginner’s Guide to Business ValuationThe Exit Strategy HandbookClosing the Deal Listen to Other Episodes: Creating Unforgettable Branding for the F&B ConsumerHow To Avoid Launching a Product No One Wants To BuyBuilding a Brand for Success: Prioritizing Consumers Over Investors

The history of alcohol in the U.S. is varied and influences the F&B sector nationwide. International business advisor and beverage industry expert Alain Barbet gives a global perspective on the alcoholic beverage industry and trends in the U.S. The discussion includes views on alcohol around the world, differences in attitude and consumption in Europe vs. the U.S., differences in regulations and distribution within the U.S., the impact of premiumization, and the megatrend of craft food and beverage products. View the complete show notes for this episode. Learn More: Food and Beverage M&AM&A Advisors to the Food and Beverage Industry Additional Resources: The Art of The Exit: The Complete Guide to Selling Your Business.A Beginner’s Guide to Business Valuation | The Exit Strategy Handbook | Closing the Deal | AcquiredPlanning to sell your business? Schedule a free consultation today.Morgan & Westfield Listen to Other Episodes: Behind the Scenes of a Shark Tank SuccessSaving the Planet One Plant-Based Food Company at A TimeEvolution and Growth Potential in the Craft Brewing Industry

This interview with Koia founder Chris Hunter covers important lessons on building a company for eventual sale while prioritizing the brand and consumers. He emphasizes listening to customers over investors, navigating profitability pressures, strategic acquisitions, and the entrepreneurial journey. Want More? Related Resources: Blackout Punch: An Entrepreneur’s Journey from Chaos to ClarityFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery BusinessAdditional Resources:Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your BusinessAcquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.A Beginner’s Guide to Business ValuationThe Exit Strategy HandbookClosing the Dealcontact Morgan & Westfield Listen to Other Episodes Building a Brand Name – A Love Affair with ChocolateThe Challenges and Benefits of Moving to Plant-Based ProteinsTop Criteria a Corporate Acquirer Looks for in an F&B Company

This episode of Food & Beverage Talk gets personal in discussing the challenges of entrepreneurship and working in the food and beverage industry. Nabeel Alamgir is the co-founder and CEO of Lunchbox, a digital ordering and marketing platform specifically for the restaurant industry. He talks about his experiences with three start-ups, lessons learned from mistakes, the successes and challenges experienced with Lunchbox, advice on forming partnerships, and the importance of honesty in marketing and sales. View the complete show notes for this episode. Want More? Related Resources: Buy-Side Food and Beverage M&AM&A Advisors to the Food and Beverage Industry Additional Resources: The Art of The Exit: The Complete Guide to Selling Your BusinessA Beginner’s Guide to Business Valuation | The Exit Strategy Handbook | Closing the Deal | AcquiredPlanning to sell your business? Schedule a free consultation today.Morgan & Westfield Listen to Other Episodes: Behind the Scenes of a Shark Tank SuccessSaving the Planet One Plant-Based Food Company at A TimeEvolution and Growth Potential in the Craft Brewing Industry

The agricultural industry’s broad supply chain and complex distribution system feed the world. Cale Rice, VP of lending with National Bank Holdings, brings his passion and extensive experience to the table to discuss financing, banking, and the challenges that exist for the food and agricultural industry. He discusses the complexities of the supply chain, factors that impact the commodity markets, advice about taking on debt, and the influence of technology on growth and productivity in agriculture. View the complete show notes for this episode. Learn More About This Episode: Buy-Side Food and Beverage M&A AdvisoryFood and Beverage M&A Additional Resources: Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your Business, Acquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.A Beginner’s Guide to Business Valuation | The Exit Strategy Handbook | Closing the Dealcontact Morgan & Westfield Listen to Other Episodes: Bringing a Niche Food Product to the MarketplaceLeveraging Marketing Data for Success in the Food & Beverage IndustryHow Artificial Intelligence Is Impacting the Food Industry

Iconic branding will stick in a consumer’s mind for years. Presenting a consistent brand experience across every touchpoint is critical to a successful marketing campaign for any F&B product. Branding expert Alexandra Liebler shares insights on how to build brands and deliver profitable growth. She discusses building brand experience and creating emotional connections, shares insights into how branding has changed over time, and highlights the branding points of memorable global brands. View the complete show notes for this episode. Learn More About This Episode: Buy-Side Food and Beverage M&A AdvisoryFood and Beverage M&A Additional Resources: Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your Business, Acquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.A Beginner’s Guide to Business Valuation | The Exit Strategy Handbook | Closing the Dealcontact Morgan & Westfield Listen to Other Episodes: Bringing a Niche Food Product to the MarketplaceLeveraging Marketing Data for Success in the Food & Beverage IndustryHow Artificial Intelligence Is Impacting the Food Industry

Functional beverages are sweeping the markets, and the intersection between mental wellness and organic living meets at the first plant-based smoothie made from whole coconut – Genius Juice. Alex Bayer, founder of Genius Juice, discusses the evolution of his company, scalability, supply chain issues, launching a new product line, and building a sustainable business. Hear insights from this entrepreneur who has imagined, developed, and marketed a niche food product and garnered investment partners on the TV show Shark Tank. View the complete show notes for this episode. Learn More: Food Industry Trends that Can Affect M&A ActivitySpecialty Food ManufacturingThe Serious Sweet Company Acquires John Bull Confectioners in the UK Additional Resources: Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your Business, Acquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.A Beginner’s Guide to Business Valuation | The Exit Strategy Handbook | Closing the Dealcontact Morgan & Westfield Listen to Other Episodes: Bringing a Niche Food Product to the MarketplaceLeveraging Marketing Data for Success in the Food & Beverage IndustryHow Artificial Intelligence Is Impacting the Food Industry

Chocolate makes the world go round – at least it does for Sarris Chocolates. William Sarris discusses the growth and evolution of a small family chocolate company into a major player in the independent chocolate business, Sarris Chocolates. He discusses the universal love of chocolate, the company’s growth from the family’s basement to a destination retail shop, the production facilities that produce over 3000 chocolate novelties, and how this family has built a brand that continues to evolve and grow. View the complete show notes for this episode. Learn More: Food Industry Trends that Can Affect M&A ActivitySpecialty Food ManufacturingThe Serious Sweet Company Acquires John Bull Confectioners in the UK Additional Resources: Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your Business, Acquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.A Beginner’s Guide to Business Valuation | The Exit Strategy Handbook | Closing the Dealcontact Morgan & Westfield Listen to Other Episodes: Hot Cocoa – From Cottage Industry to Regional FavoriteWhat Does It Take To Bring a Small Chocolate Snack To a Large Market?The Sweet Coconut Success That Led to Shark Tank Interest

Combining an entrepreneurial spirit with his passion for the planet and compassion for animals, Brett Christoffel is trying to make Texas the largest plant-based protein producer in the USA while creating a company that also makes money. He discusses the health benefits to people and the planet of plant-based proteins, the manufacturing process, finding the right co-packer, handling taste testing, and the challenges in bringing snacks to the marketplace through independent retailers and Amazon. View the complete show notes for this episode. Learn More: Food and Beverage RetailersSpecialty Food Manufacturing Resources Mentioned Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your Business, Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue,Food and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.A Beginner’s Guide to Business Valuation | The Exit Strategy Handbook | Closing the Dealcontact Morgan & Westfield Listen to Other Episodes: Bringing a Niche Food Product to the MarketplaceLeveraging Marketing Data for Success in the Food & Beverage IndustryHow Artificial Intelligence Is Impacting the Food Industry

If 95% of food start-ups fail, how can entrepreneurs hope to get new products into the marketplace? Bernard Verkaaik offers expert advice on the competitive challenges start-ups face, what acquirers look for when they consider buying an F&B start-up, tips on building a brand that is difficult to replicate, the importance of scalability and how often consumers replace a product, when to work with a co-manufacturer, how the right broker can help get products on shelves, and what gets a retail buyer’s attention. View the complete show notes for this episode. Learn More: Business Broker and M&A Advisor Fees: A Comprehensive GuideDo I Need To Hire a Local Business Broker?M&A Basics | Why Do Business Owners Sell Their Business? Additional Resources: Schedule a free consultation todayThe Art of The Exit: The Complete Guide to Selling Your Business, Acquired: The Art of Selling a Business With $10 Million to $100 Million in RevenueFood and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.A Beginner’s Guide to Business Valuation | The Exit Strategy Handbook | Closing the Dealcontact Morgan & Westfield Listen to Other Episodes: How a Start-up Company Is Leading a Snack Food RevolutionThe Future of Food & Beverage DistributionTips for CPG Brands Looking for the Right Co-Packer