Highlights from Anchin’s 2020 “Virtual State of the Food and Beverage Industry” Event
On October 1, 2020, we had the pleasure of hosting a virtual iteration of our annual “State of the Food and Beverage Industry” event for our friends in F&B located throughout the country. We are delighted to share some key takeaways from the program with you.
To set the stage for the conversation, Anchin’s Food and Beverage Leader Greg Wank shared insight into what he has been discussing and seeing with clients, how they have been approaching the challenges of planning when there are so many unknown factors, and what they are seeing in the fundraising and capital climate. He called attention to a theme that was echoed later in the event by some of the panelists, which is a paradigm shift for companies away from a top-line-centric growth plan in favor of a self-sustaining business model, maximizing cash flow.
Following Greg’s opening remarks, the attendees were virtually escorted into networking breakout rooms. When they concluded, the panel discussion began. Moderator Melissa Facchina, Founder of Siddhi Ops and Siddhi Capital, drove a multifaceted discussion that covered topics of importance, presently and in the future, to the food and beverage industry. The featured panelists were:
- Ben McKean – Founder and CEO of Hungryroot
- Daina Trout – CEO & Co-Founder, Health-AdeKombucha
- Mark Rampolla – Co-Founder and Managing Partner of PowerPlant Ventures
- Sadrah Schadel – Co-Founder and Chief Creative Officer at No Evil Foods
Daina Trout of Health-Ade Kombucha and Mark Rampolla of Powerplant Ventures discussed navigating the investor-investee relationship through a time of uncertainty.
Daina Trout of Health-Ade Kombucha and Sadrah Schadel of No Evil Foods shared insight on challenges related to manufacturing. They discussed a focus on measures to keep employees safe, while also being more in tune than ever to issues in employees’ lives that must be addressed in order for them to make meaningful contributions to the company (such as concerns surrounding child care and well-being of family members).
To close out the panel, speakers Daina Trout of Health-Ade Kombucha and Ben McKean of Hungry Root offered their views on “what’s next” for their companies.
We would like to thank the panelists and attendees, especially those who participated in the networking breakout rooms, as well as our event partner and moderator Melissa Facchina of Siddhi Ops and Siddhi Capital. We will keep our friends of the firm posted about future event opportunities and hope to see you at the next one!