Federico Troiani

Ending the week high on optimistic skepticism for the better-for-you CPG landscape. Big acquisition news leaves me optimistic that more money will start to flow back into BFY CPG companies, helping to further drive impact and food systems change. Anytime there is a big acquisition, investor FOMO reaches an all-time high. Skeptical though since the reality is that most of the money that will flow back into CPG because of this will come with similar exit and growth expectations. I truly believe that if we are going to make lasting, meaningful changes within our food system, then we need more independent companies invested in impact-centered long-term growth, and we need more investors willing to invest in companies like these. Creating further consolidation within a food system that has so much already is not the path to meaningful change. Creating a system in which Big Food gets bigger and uses acquisition to bandage over their core business that is destroying consumer health and planetary health is not the path to meaningful change. Creating short-term wins for shareholders while ignoring the impact that independent, evergreen, mission-driven companies can have on the world as they scale is not the path to meaningful change.   I get it. There’s an allure to big numbers– big returns. Money has allure, it has status, it has power. We love money. We praise it. We’re driven by it. But all of that money, status, power, ego, and praise really arent going to mean much if we continue to invest in short-term gains and shareholder value at the expense of investing in a better future. There are many ways to invest in mission-driven companies in which return is not predicated on an exit and companies can stay truly independent and impact-focused to drive long-term change. For the sake of our food future– we need more of those investors. Always happy to chat about those investment models for those curious.

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🚀 The rise of functional beverages is more than just a trend—it's a movement reshaping how we think about what we drink. 📖 Great piece by Keren Landman at Vox on why the better-for-you beverage category is surging, with the market set to surpass $200 billion by 2027. Millennials are leading the charge, consuming these beverages at twice the rate of other age groups.   🌱 This is just the beginning. The rapid innovation and demand we’re seeing are a testament to consumers seeking healthier, more mindful alternatives to traditional drinks.   🌵 We look forward to continuing to pave our own unique path forward for MAGIC CACTUS and provide consumers with a refreshing, healthier beverage that can be enjoyed by a broad base of drinkers nationwide. ✨   Link to full article below:

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Win-win partnerships are the way to succeed in the CPG business. Regardless of scale, you have to work with partners that have a win-win mentality. The alternative to win-win is transactional. Transactional relationships are focused on the ‘now’ and a ‘what’s in it for me’ without concern for the other party. Don’t get me wrong - transactional relationships can lead to short term win-wins, but eventually goals become misaligned and things fall apart. I talk to dozens of beverage brands on a weekly basis as part of my role. One of the first things I assess is whether the brand is a win-win partner or a transactional partner. We tend to keep transactional conversations at the door because we know the win-wins are what sustain us for the long haul. #manufacturing #beverageindustry

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There's a subtle but HUGELY important trend playing out in CPG that may have ripple effects across the entire industry: Modern consumers are starting to care less about legacy brands. This article was specifically about Kraft Mac & Cheese, but I think it's indicative of a wider trend happening across the CPG landscape, and in alcohol in particular. Many multi-national, household name brands don't carry the same weight with consumers that they did even five or ten years ago. So, what does this mean & what are the implications? Well, it has lots of implications but two things I feel strongly are true: 1. This is a particularly interesting time to be launching and scaling challenger CPG brands 2. Big CPG conglomerates will need to get aggressive in shaking up their portfolios Going to be an exciting and interesting few years in the space!

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Better-for-you brands are breaking through. PepsiCo acquired Mexican-American snack maker Siete Family Foods for $1.2B. Known for its grain-free versions of cultural staples, the 10-year-old company is expected to hit $500M in annual revenue by EOY. Initially designed for Latinos with dietary restrictions, Siete’s products span almond flour tortillas and chips, wedding cookies, sauces, salsas, and more. Hitting the mark, it raised $90M from Stripes in 2018, and actress Eva Longoria invested this year. Now, PepsiCo will look to bolster its multicultural and better-for-you portfolios. Across cultures, healthy convenience is in demand. But, when it comes to ethnic foods, authenticity is key — meaning upstarts have a rare R&D edge on corporations.

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CPG HOT TAKE ‼️ BRAND will be the sole determining factor behind a company’s success We are seeing more retailers move more towards private labeled products. Why not? It’s higher margin and lower cost to the consumer. With most of the retailers getting hammered in the press for high prices. They will be able to lower the SRP and make more money Where does this leave CPG products? Why will a consumer pay more for a very similar product? We are seeing 7 Eleven pushing their Fusion energy($2.79) at BOGO vs Celcius ($2.89) at BTGO.. Brands like Celcius will really have to dive deep into marketing and brand spends to dig that moat. Keeping consumers loyal to their identity and brand community What will separate your PRODUCT as a BRAND consumers feel the need to spend a little bit more for the same (-ish?) product TBD!

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Interesting move by Amazon, stripping back food *frills* and opting for basic, if not offensively cold, packaging for Fresh shoppers. The direction seems odd given the demographic of those using Prime for delivered groceries. Focusing on more inventive and unique private-labeled products (like chocolate almond butter at Target) would be more appealing to said demo. This shift to mass-produced food products comes at a time when concerns over historically harmful food production and consumption are increasingly evident. #Amazon #Fresh #Groceries #whatsyourtake #thoughts

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Compliance isn't sexy Quality isn't sexy We aren't superheroes But what we do drives so much value and impact in the CPG market Qualitas Executive Group helps protect you from: -demand letters -angry customers -regulatory action -product rejections -angry retail partners -class action nonsense -those gosh darn auditors And that's pretty sexy tbh #quality #compliance #consulting #qualitas #cpgindustry #dietarysupplements #food #foodandbeverage #cosmetics #beautyindustry #qualitymanagement #regulatoryaffairs

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As a CPG brand working with co-packers, have you ever considered the power of referrals? When searching for a new co-packer, it's important to keep in mind that this industry largely runs on relationships and referrals. When having conversations with potential co-packers, don't forget to ask: "If this doesn't end up being a fit for you, co-packer, do you have other co-packers in your network that might be able to help?" Most of us are willing to refer *good* people and brands to other manufacturers if asked to do so. And we will usually make warm introductions, which cuts through the layers for you. So why not make a respectful ask for referrals? You can't assume the co-packer will do it, but it doesn't hurt to ask. And don’t be offended if we refer you to a consultant to help you run a co-packer search. If we do that, it means we think it’s in your best interest for a variety of reasons. Unless you have many years’ experience of co-packer searches and commercializations, the cost to pay a consultant to help is usually MUCH lower than the mistakes you will make in trying to do it yourself. Remember, the power of connections can go a long way in this industry. #beverageindustry #cpg #copacking

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“Ugh, marketing has another crazy idea” Good, they’re supposed to Without a good marketing team in CPG… You won’t have a job At least not for long Find ways to help those crazy ideas become reality without sacrificing quality, compliance, or customer experience along the way If you can do that, you are light years ahead of your peers in quality and compliance On the brand side, if I had to choose one key factor that accelerated my career It was learning how to help the marketing team win, and win FAST Marketing is not the enemy Your mindset about marketing is the enemy Give them the tools to succeed and spend that energy on real issues Like the fact you haven’t trended complaints in 9 months Or ever #marketing #quality #compliance #cpg #dietarysupplements #cosmetics #beautyindustry #qualitas

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OK...I don't think any real CPG company would enter a new product category with 4 different brands. But Tilray is not a real CPG company, which is why they are entering the hemp-derived Delta-9 THC beverage category, with 4 different brands. "420 Fizz is a sleek and modern brand built off Tilray’s iconic 420 beverage platform. Enhanced with 5mg HDD9 per can, 420 Fizz is an exciting new seltzer with a refreshing taste. Herb & Bloom, a super-premium mocktail, offers a unique way to experience timeless classics with its harmonious blend of refreshing fruit notes infused with 5mg HDD9 per can. Each drink is crafted for a smooth and balanced experience, resulting in a delicious taste. Welcome to a world blooming with possibilities. Fizzy Jane's is a light and delicious seltzer with 5mg HDD9 per can and three classic flavors Blackberry, Blood Orange and Vanilla. A nostalgic brand created for the curious consumer. Happy Flower is inspired by classic cocktails, with a citrusy Margarita, a juicy Strawberry Daiquiri, and a bubbly and fruity Peach Bellini. Each Happy Flower cocktail contains 5mg HDD9 THC per 12oz. can and provides a new way for consumers to relax and unwind in a format that’s familiar, convenient, and delicious. Tilray will launch Happy Flower in partnership with Emergent Beverage in the Texas and Louisiana markets." That's 4 different brands to properly position and gain listings and generate consumer awareness and trial and refine...it's just too much at once. I spent 25 years in CPG, and ran a number of beverage-related brands like Maxwell House Coffee and Del Monte Fruit Drinks and Bacardi and Grey Goose Spirits and bev-alc RTD's and I cannot recall ever trying to launch 4 brands at the same time, especially into a still nascent and changing product category. It just seems business irresponsible - it might make for good investor fodder, but it's not smart marketing strategy.

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CPG Brand Marketers: As the clichés go, the Only Constant is Change. It’s Always a Moving Target. Roger that. ✔ But regardless of how adaptable you are, it’s hard to build a brand within total chaos. You need some organizing principles. This is where 𝙋𝙧𝙖𝙜𝙢𝙖𝙩𝙞𝙘 𝙎𝙩𝙧𝙖𝙩𝙚𝙜𝙮 𝙖𝙣𝙙 𝙁𝙡𝙚𝙭𝙞𝙗𝙡𝙚 𝙋𝙡𝙖𝙣𝙣𝙞𝙣𝙜 comes in. In my corporate life and now with my clients, I've always leaned on Go-To frameworks--many from the classic marketing playbook-- 📒 to keep a brand strategy complete, relevant, actionable, and impactful. Those functional skills are Table Stakes. IMHO, 𝘣𝘶𝘪𝘭𝘥𝘪𝘯𝘨 𝘗𝘳𝘢𝘨𝘮𝘢𝘵𝘪𝘴𝘮 𝘢𝘯𝘥 𝘍𝘭𝘦𝘹𝘪𝘣𝘪𝘭𝘪𝘵𝘺 𝘪𝘯𝘵𝘰 𝘺𝘰𝘶𝘳 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘺 𝘪𝘴 𝘮𝘰𝘳𝘦 𝘢 𝘉𝘦𝘩𝘢𝘷𝘪𝘰𝘳 𝘵𝘩𝘢𝘯 𝘢 𝘚𝘬𝘪𝘭𝘭, and surprise! It starts with YOU, the Leader, embedding it into your team culture and way of working.  Some tips on how: 💠𝗔𝘀𝗸 𝗽𝗿𝗼𝘃𝗼𝗰𝗮𝘁𝗶𝘃𝗲 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀. Not to demand immediate answers, but to push your team to use their curiosity, powers of observation and experience to assess [insert Situation X or Challenge Y] and 𝙜𝙚𝙩 𝙩𝙤 𝙩𝙝𝙚 𝙞𝙣𝙨𝙞𝙜𝙝𝙩 𝙤𝙧 𝙪𝙣𝙡𝙤𝙘𝙠 𝙁𝘼𝙎𝙏. Help them build Strong Guts supported with data 🔢 , not the reverse. 💠𝘼𝙥𝙥𝙧𝙤𝙖𝙘𝙝 𝙗𝙞𝙜 𝙙𝙚𝙘𝙞𝙨𝙞𝙤𝙣𝙨 𝙬𝙞𝙩𝙝 𝙎𝙢𝙖𝙧𝙩 𝙎𝙥𝙚𝙚𝙙. Take time upfront to gain multiple perspectives and assess multiple paths before barreling forward, but 𝘰𝘯𝘤𝘦 𝘺𝘰𝘶 𝘱𝘪𝘤𝘬 𝘪𝘵, 𝘴𝘵𝘪𝘤𝘬 𝘪𝘵. (sorry, grammar police 👮‍♀‍) 💠𝙈𝙖𝙠𝙚 𝙞𝙩 𝙎𝙖𝙛𝙚 𝙩𝙤 𝙏𝙚𝙨𝙩 𝙖𝙣𝙙 𝙇𝙚𝙖𝙧𝙣. Encourage 𝙚𝙖𝙧𝙡𝙮 𝙥𝙧𝙚𝙨𝙨𝙪𝙧𝙚 𝙩𝙚𝙨𝙩𝙞𝙣𝙜 𝙖𝙣𝙙 𝙞𝙩𝙚𝙧𝙖𝙩𝙞𝙤𝙣 to generate confidence and momentum. (call it an A/B test, or don’t –just find a before and after view that works!) This provides a needed reality check so you can 𝙙𝙚𝙥𝙧𝙞𝙤𝙧𝙞𝙩𝙞𝙯𝙚 𝙬𝙝𝙖𝙩 𝙘𝙖𝙣’𝙩 𝙗𝙚 𝙚𝙭𝙚𝙘𝙪𝙩𝙚𝙙 𝙤𝙧 𝙨𝙘𝙖𝙡𝙚𝙙. So….as we approach Q4, 𝙝𝙤𝙬 𝙝𝙖𝙫𝙚 𝙮𝙤𝙪 𝙥𝙧𝙤𝙜𝙧𝙚𝙨𝙨𝙚𝙙 𝙖𝙜𝙖𝙞𝙣𝙨𝙩 𝙮𝙤𝙪𝙧 𝘽𝙧𝙖𝙣𝙙 𝙎𝙩𝙧𝙖𝙩𝙚𝙜𝙮? Does it need a tune up to end the year strong? If so, let’s talk! ----- I’m Elizabeth, and I help consumer marketing leaders use strategic insights to fuel brand growth. DM me to learn about my approach to ensure your Strategy is optimized to the ever-changing market. #brandstrategy #brandgrowth #growthmindset #cultureofinnovation

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"I haven't seen you this excited since Wander!!" 👆 It's true - that's how PUMPED I am...and think you will be too! Since joining the CPG industry, two topics come up more than any other: 1) driving trial and sampling AND 2) in-store velocity Makes sense as these are critical to the success of any CPG brand. The challenge is the levers to accomplish these are often very expensive and/or logistically challenging. I've long wondered: Is there an affordable, easy solution that addresses both? YES - now there is for brands big and small! Introducing Caddle's Market Share Accelerator solution: On a monthly basis, we engage 500+ consumers buying the competition or new to the category to go in-store to buy your products. AND 250+ will complete a 10-question post purchase survey AND 200+ will opt-in to your CRM. Both the survey and campaign results also have demographic & retailer filters for comprehensive analysis. Best part? All you need to provide is the UPC and the # of units - we take care of the rest all for an affordable, easy-to-quote price. This solution is perfect to: - drive sales at key retailers - support product launches with initial sales - increase awareness in new markets - gain insights on the consumer journey and preferences This fills in so many gaps and needs I had both for brands at The Think Tank (TTT) and when I was running Wander... it pack so much value into a single solution, I'm SO excited to start helping brands gain market share and grow faster! Campaigns will start on AUGUST 1 - perfect for a late summer push BUT 69% of consumers have started back-to-school shopping by the end of July AND over half of consumers are willing to switch brands, particularly for price. Makes it a great time to become part of the back-to-school routine and get a spot in the lunch box or after school snack! If in-store velocity and gaining new consumers are objectives for your brand... let's talk and get units moving! #shoppermarketing #brandmarketing #retailmarketing #marketingstrategy #sampling #promotions #startups #emergingbrands #foodandbeverage

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I really enjoyed my conversation with Kyle & AC a few weeks ago. I invite other brands who are interested in developing their own regen programs to connect so we can build this future together! We broke down how hemp grows, and some of the differences across conventional, organic, and regenerative organic growing practices. We also talked about what doubling down on our regenerative strategy means for both the B2C and B2B sides of the business. Take a listen! 

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Not every brand or brand portfolio is going to be market leader. You (and your company) need to understand that - sure, there is optimism, but realism is more real. When I was at Kraft Foods, I ran the cereal business for a bit - Shreddies, Honeycomb, Alpha-Bits, Honey Bunches of Oats...we were a sad #3 behind Kellogg's and General Mills, and just ahead of Quaker. The "challenge" our President gave me was to make us #1 - I told him that was not possible, because, it was not reasonable. Kellogg's was a breakfast business - cereal was a key for them and they would fight to the death - we would blink faster than a Tourette's convention. And the Mills would also spend more than we would ever come close to. Of course, I was not being a leader - I was not finding the creative solution (read: the one that drives sales, but doesn't cost anything). I was being a leader - I was showing the business what the business was, what it could be and how it should be run, in the context of the overall company. How to allocate our resources in the most responsible way. Realism is a pretty good guide for running a business - just wanting and wishing and hoping, will not make it so - and, one needs to remember that, if we are writing a +10 market share growth plan, who is writing the -10 share plan?

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There are three critical things to communicate when it comes to growing your CPG brand. Whether it’s investors, buyers, distributors or anyone else who you need to get on board. 1. Where are you going? Vision is a word that gets thrown around a lot, but when you define what that actually means it’s the answer to a simple question. It’s a powerful guide for your behavior everyday. It’s critical to know where you want to be years down the line, if you are going to build alignment with key stakeholders along the way. EVERYONE wants to go to the promised land, so tell them where that is, what it looks like and feels like to be there, bring this place to life in your core essence and share that passion with anyone you wish to enroll in your pursuit. It’s not enough to just talk about revenue, white space, or data. That’s all very important, but people need to believe that you see it, that it’s a real place that exists, and it’s just a matter of making the trek. 2. Why should people care? Assuming that making it to the promised land includes a compelling value prop that’s linked to clear differentiators in your category that customers actually care about and you have data to support this no matter how young you are. Okay, that’s maybe an assumption I shouldn’t make, but if you don’t have that, definitely don’t make the trek. If you have that, then don’t overthink this question. This question is all about why any stakeholder will make more money with you than without you. Ultimately that’s the baseline that will get any stakeholder on board. Investors have thousands of deals to choose from, buyers have thousands of brands/products to choose from, distributors have only so much room in their facilities/trucks. At some point you have to articulate why yours is better from that black and white perspective. If you don’t have this answer completely dialed in for every stakeholder, nobody will believe that you are the right guide to follow to the promised land. 3. How are you going to make it happen? It’s impossible to anticipate every twist and turn along the way, but you should have a very clear picture of what you and your team are capable of doing to execute this vision. Not that it can be done, or even the best route to take, but your demonstrable ability to make it happen. The more specific you are the better. The more commitments you have the better. Even when you have those things it sometimes is not enough so you need to combine these tangible plans with perseverance. If you can’t speak to these three things clearly with conviction and passion, it will be hard for anyone else to take you seriously enough to invest their time or money. Don’t fluff it either, give people the straight sauce. Even if it’s not perfect (shocker, it never is, and if you believe it is people won’t believe you), a little authenticity will help build trust, so don’t paint the perfect picture, just lay out the argument in a way that is very real.

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What Got You Here Won’t Get You There: This is the story of many CPG brands that once enjoyed profitability and significant market share but are now struggling to stay relevant in a rapidly evolving competitive and technological landscape. For a CPG brand that once thrived but now finds itself grappling with low cashflows, shrinking margins, and a stagnant topline, the future depends on decisive, strategic shifts. It’s a classic catch-22: do you invest in brand building to stay top-of-mind, or refocus on reformulating products or upgrading machinery to stay competitive? Here’s a strategic playbook to help navigate these complex choices: ◀️ Laser-Focused Investment: Develop a clear game plan. Prioritize investments in the brand, product innovation, and operational efficiency—but stay selective. Every dollar should bring measurable impact. ◀️ Modern Brand Building: Leverage content creators over traditional media. They bring authenticity and targeted reach, often at a fraction of the cost of TV or other conventional ads. ◀️ Lean Inventory Management: Adopt Just-in-Time practices, reduce slow-moving products, and optimize your inventory to save on warehousing and carrying costs. ◀️ Strengthen Cash Flow: Tighten working capital by reducing customer credit terms, exploring receivables financing, and negotiating extended payment terms with vendors. ◀️ Smart Reinvestment: Channel profits back into quality improvement, sustainability initiatives, and cost-efficient warehousing, transportation, and supply chain improvements. Waste reduction should also be a priority to further enhance margins. A full-time or Fractional CFO can be a game-changer in guiding this journey. They bring accountability, track key KPIs, and implement a Balanced Scorecard to keep tabs on your brand’s financial and operational health. It’s time to take a bold, structured approach to stay relevant—and profitable—in today’s evolving market. ****************************************** P.S. I am a Fractional CFO helping businesses take informed financial decisions with peace of mind while having some fun in this process. Please contact me at [email protected] if I can be of any help in your CPG Transformation Journey. Brain Expansion Group Startup Ecosystem Canada Fractional CFO The CFO Centre Canada

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"Reading the tea leaves" is getting harder and harder in CPG. Earnings (and prices) are still up. Volume is stabilizing. RMN spending continues to be way up (close to $60 BILLION). US household debt is a staggering $17 TRILLION. Layoffs and restructuring are up - see Revenue Management in earnings Private Label sales are up 6% to $217 BILLION. Walmart's big launch was a telling signal too. Retail earnings continue to point to trouble ahead - a few quarters in a row now. Discount channels (like Aldi) are up significantly in traffic & sales. Consumer promotions are up - Ibotta IPO successful too. Value (not just price) is at the top of all Marketer's comms. It's all just...well, confusing as hell. Everyone seems to be hanging on for the event that hasn't come. I hope it doesn't, but smarter folks than I say it's a matter of time. Does CPG get the "soft landing" that the Fed is navigating or will things get rough?

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Last week, I had an insightful conversation with Joshua Schall, MBA where we explored the fast-changing energy drinks market in the U.S. and Canada, the strategic moves we’re making at GURU, and the balance between risk and opportunity. We also discussed the journey of taking GURU public and how we’re navigating investor expectations to drive long-term differentiation. Tune in for a deep dive into the dynamics of strategy, business, and the energy drink industry!

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