Making Cents

Drew Fallon
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The go-to finance podcast for the consumer goods industry. Host Drew Fallon brings on experts to cover everything from capital markets transaction to tactical tips on how to scale a company from the CFOs seat

  1. 12 MRT

    E:20: THE ULTIMATE FOOD CPG MASTERCLASS: RXBAR, SIMPLE MILLS, AND SIR KENSINGTON'S

    Join us on Byside for a special compilation episode where we extract the greatest lessons in food brand building and massive M&A exits. We dive into how RXBAR bootstrapped their way from a line of credit to a highly competitive 600 million dollar exit in just four years. Then, we explore how Simple Mills managed explosive demand at Costco, scaling from 70 million to 240 million dollars while using smart debt to avoid dilution. Finally, we unpack Sir Kensington's brilliant strategy of using New York City restaurants as the theater of food to build deep consumer habits before their strategic acquisition by Unilever. Chapters 00:00 - The $600M RXBAR Bidding War 03:06 - Bootstrapping and Securing Bank Debt 07:39 - Simple Mills' Explosive Costco Growth 10:18 - Using Debt to Minimize Equity Dilution 12:07 - Sir Kensington's Restaurant Strategy 14:26 - The Unilever Acquisition #FoodBrandBuilding, #CPGinvesting, #RXBARexit, #SimpleMills, #SirKensingtons, #BootstrappedBusiness, #CPGfounders, #ConsumerPackagedGoods, #RetailStrategy, #MergersAndAcquisitions

    18 min.

  2. 26 FEB

    E:19 ROBBIE PATTERSON ON THE $350M Astō FUND, SECONDARY SHARES, AND CPG IPOS

    Join us on Byside as we welcome Robbie Patterson to unpack the playbook behind Astō Consumer Partners. Robbie breaks down how his team recently raised a 350 million dollar fund to back profitable consumer brands in food, VMS, and personal care. We explore why Astō prefers buying secondary shares at a 10 to 20 percent discount to align with founders, how they identify brands with massive gross margins up to 90 percent, and where true investment alpha lives in the transition from online channels to physical retail. Plus, hear Robbie's bold prediction on why the public markets are reopening with half a dozen CPG IPOs this year.

    54 min.

  3. 19 FEB

    E:18 Bootstrapping a $100M Beauty Empire: Kevin Gould of Glamnetic

    How do you scale from $1 million to $100 million in revenue without taking a single dollar of outside capital?. In this episode, we are joined by Kevin Gould, the co-founder of Glamnetic. Kevin takes us through his career starting in the WME mailroom, his transition into influencer management, and the eventual creation of one of the fastest-growing brands in the beauty space. We discuss the high-stakes decision to pivot the company from magnetic lashes to press-on nails, the tactical realities of managing cash flow in a bootstrapped business, and the recent launch of their mass-market brand into 2,700 Walmart doors. This is an essential listen for anyone interested in finance, marketing, and the "real world" challenges of scaling a consumer brand.

    1 uur

  4. 13 FEB

    E:17 $3.6M Profit on $12M Sales: Why BUDA Went Public

    Horatio, CEO of Buddha Juice (NYSE American: BUDA), shares how they pivoted from ~18–19 retail stores to a profitable wholesale model built on an “ultra-fresh” cold chain (~35°F, 8–12 day shelf life). We unpack Costco roadshows, the decision to IPO vs private equity, and how automation + operational discipline can drive strong margins in CPG. We also dig into the unit economics behind a ~45% gross margin beverage business, how automation drove labor costs down dramatically, and how BUDA thinks about scaling capacity (including expanding beyond Dallas to serve the East and West Coasts).​

    53 min.

  5. 6 FEB

    E:16 Beauty & Personal Care Scale Secrets: Hero SKUs, PE Deals, and DTC Survival

    This Making Cents compilation brings together top beauty and personal care insights from Tara Hyland (Main Post Partners), Sean Riley (Dude Wipes), and Geologie founders Nick Allen and Dave Skaff. Hear why investors love beauty and personal care (better margins and multiples than food and beverage), how hero products like Dr Dennis Gross’ two step peel pads drove a $450M Shiseido exit, and what $25–35M topline “proof of concept” really looks like. We unpack Dude Wipes’ journey from Amazon side hustle to national retail, bootstrapping 3.4B wipes sold using asset based lending instead of early VC, plus Geologie’s path from subscription mens skincare to a banker led sale without ever scaling to $100M. You’ll also learn how minority vs majority deals work in beauty, how founders can keep control, and what it takes to survive DTC 2.0 CAC spikes with lean teams, disciplined hiring, and tight inventory management. 👇 Tap to hear the full compilation and get a practical playbook to grow and exit a beauty or personal care brand on your terms. #BeautyBusiness #PersonalCare #DTC #Bootstrapped #Skincare #StartupJourney

    21 min.

  6. 30 JAN

    E:15 $43M Barefoot Empire: Bootstrapped No VC (Flux Footwear Secrets)

    Isaac Mertens (Flux Footwear CEO) reveals how he quit CPA exams, scaled Etsy furniture to 7 figures, then built $43M in barefoot shoes, self funded through 6 month supply hell, sellouts, and 80% margins.​ From Indiegogo $50K flops to $300K to $43M explosions via SBA loans plus supplier hacks (50% deposits to 20%). Footwear repeat nightmares solved: sub 10% to 30% rates, first order profits, LTV to CAC 3:1.​ "Apple of barefoot" aesthetics crush Vibram cringe, challenging Hoka with foot health mission (bunions to back pain fixed). DTC gold on unit economics, Meta ROAS drops (3x to 1.2x), daily margin obsession.​ Scale ready founders: supply crunches, no VC reality, awareness battles ahead.​ 👇 Tap to hear the full Making Cents episode, raw playbook for apparel footwear wars. #DTC #Bootstrapped #Ecommerce #StartupJourney #FootwearBusiness

    57 min.

  7. 23 JAN

    E:14 Sam McBride, Founder of Colter Ventures & Ex COO of RXBar on Selling to Kellogg for $600M

    In this episode of Making Cents, Drew hosts Sam McBride, former COO of RXBar and founder of Colter Ventures. Sam breaks down the legendary bootstrap journey of RXBar, which scaled from $2 million to $125 million in revenue in just four years before selling to Kellogg’s for $600 million. They discuss the "No BS" rebrand that experts hated but customers loved, the discipline of using bank debt over venture capital, and Sam’s new investment thesis at Colter Ventures focused on a "generational turnover" of the grocery store. Chapters 00:00 – Health as a status symbol and the future of protein 03:07 – Why Sam left finance to become an entrepreneur 07:39 – Scaling RXBar: From CrossFit gyms to $120M+ in four years 12:10 – The "shaved bodies" story and early founder obsession 16:10 – Transitioning from D2C to massive retail distribution 19:11 – The rebrand: Why experts said the new packaging would fail 25:02 – Bootstrapping with debt: Using credit lines instead of VC 28:56 – Scrappy operations: Negotiating with vendors and mailing checks 35:48 – Pricing strategy: Solving problems to maintain high gross margins 41:21 – The $600M Exit: A bidding war between Pepsi, Mars, and Kellogg 48:15 – Colter Ventures: Focusing on secondary deals and Kettle & Fire 56:47 – The "Familiar but New" framework for category disruption 01:02:11 – Why the next generation of CPG might stay independent

    1 u 5 m

  8. 15 JAN

    E:13 Amy Haas, Ex Simple Mill CFO on the 10 year journey to $795M sale to Flower Foods

    In this conversation, Drew introduces Amy Haas, former CFO of Simple Mills, who shares her journey from the corporate finance world into the startup environment and the experience of building a successful food brand. Amy reflects on Simple Mills’ early mission, its growth, particularly following the launch of its cracker line and the role private equity played in scaling the business while preserving core values. She discusses the importance of building strong teams, prioritizing sustainable growth, and staying focused on mission rather than market trends. Amy also shares insights from her current work advising early-stage brands and the joy she finds in helping others navigate the food industry. Chapters 00:00 – Acquired by Flower Foods for $795 Million 03:52 – From $500,000 in Sales to 10 Years Through Acquisition 13:59 – Whole Foods to Costco Was Kind of a Crazy Jump 16:01 – Revenue Wasn’t a Hockey Stick, Then a Big Jump Over $200 in a Year 17:25 – Multi-Category Brand Worth $100 Million Plus 22:05 – Capitalizing the Company Without Huge Amounts of Equity 24:30 – Debt, Stonegate, and Chicago Gross Margin Discipline 25:55 – Private Equity Enters and Expectations Change 27:23 – Private Equity TLC to Sell the Business 31:40 – CPG M&A and Founder Obsession With Exits 40:00 – Retail Finance Is People-Intensive 44:10 – Raising Less Capital in a Capital-Intensive Category 45:30 – Life After a $795 Million Exit Advising the Next Wave

    47 min.
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Info

The go-to finance podcast for the consumer goods industry. Host Drew Fallon brings on experts to cover everything from capital markets transaction to tactical tips on how to scale a company from the CFOs seat

Informatie

  • Maker
    Drew Fallon
  • Jaren actief
    2025 - 2026
  • Afleveringen
    20
  • Beoordeling
    Veilig
  • Copyright
    © Drew Fallon
  • Website van aflevering
    Making Cents

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