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NCN NUTRITION CAPITALNETWORK
Overview of Trends in Industry Fundamentals,Trends and
Transactions in the Nutrition and Health & Wellness Industry
Grant Ferrier, CEO/Founder, NCN, 2007-presentEditor, Nutrition Business Journal, 1996-2007
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Industry Fundamentals
NCN NUTRITION CAPITALNETWORK
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NCN’s‘Ecosystem’
26 industry experts (screening committee) 27 meetings
260+ investor groups
2,300+cumulative applicants
452presenting companies
46 investor members
54% of companies have raised money or had a transaction
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NCN NUTRITION CAPITALNETWORKCornerstone Investors – Strategic
Consumer Care
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Cornerstone Investors – Private Equity
NCN NUTRITION CAPITALNETWORK
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NCN Sponsor Partners - 2015
NCN NUTRITION CAPITALNETWORK
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Stages of Investment in Growth Companies
Adapted from Canaccord
NCN Sweet Spot
Successful Exits
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NCN: Success Story Highlights• ZICO Pure Coconut Water: NCN III in October 2008 raising $2-3 million:
NCN Cornerstone Investor member Coca-Cola invested $15 million in 2009
• Happy Baby: NCN III in October 2008 raised $500,000 in 2009: Sold to Danone in 2013 for $100-million-plus when with sales at $63 million.
• Plum Organics: NCN IV in April 2009; 2009 round led by now NCN member Alliance Consumer Growth; 2010 round $9 million led by NCN member Catterton; Campbell acquired Plum in June 2013 with sales at $93 million.
• Food Should Taste Good: NCN VI in May 2010 as portfolio company of NCN member Sherbrooke; acquired by NCN member General Mills in 2012.
• Other brands presented include Zevia, Annie’s, Manitoba Harvest, Nawgan, Reds, Balance Water, mix1, Kevita, Suja, Runa, Angie’s, Health Warrior, etc.
• Science& Ingredients: Biovelop-Tate & Lyle; IGY-family office, Anagenix-Stratum/Novus, Qualitas-Valicor, Lodaat, LiveLeaf, MycoTechnology, Blue Prairie, Natreon-DSM announced in July 2015
NCN NUTRITION CAPITALNETWORK
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What are investors looking for?
•Differentiation •New company or concept
•Potential for category leadership
•“Protectability” of product or service or technology
•Intellectual property
•Size and growth rate•Scalability•Profitability•Exit potential
Novel Position Insulation Economic Potential
Management Tangibles Intangibles
•Experience & Track Record
•Starpower/connections•Team
•Experience & Track Record
•Starpower/connections•Team
•Brand•Quality•Taste•Packaging
•Brand•Quality•Taste•Packaging
•“Wow” Factor•“Wow” Factor
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NCN Industry Fundamentals
NCN NUTRITION CAPITALNETWORK
U.S. Nutrition and Health & Wellness Industry: Big and Growing at $263 billion and up 6% in 2014; 5-6% in 2015
Penetration Rate of Healthy Foods Increasing: From 13% in 1995 to 29% of total foods in 2014
Supplement Sales Growth Surpasses Pharma back in 2007
Growth Drivers: Demographics/Aging, Self Care, Medical Transition, CPG/Food/Pharma Strategy, Better Products/Biz
Financing and M&A Activity Remains HighM&As may be slowing as sizeable targets are taken off the board and valuations are
up (Annie’s effect); still plenty of capital available for attractive targets
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U.S. Nutrition and Health & Wellness Industry: Revenues of $263 Billion in 2014
NCN NUTRITION CAPITALNETWORK
Natural & Organic Foods, 63.3 , 24%Functional Foods,
51.1 , 19%
Lesser Evil Foods, 79.3 , 30%
Supplements, 35.8 , 14%
N&OPC & Household, 15.3 , 6%
Specialy Ingredients, 13.4 , 5%
Enabling Technology, 2.8 , 1%
Other, 2.5 , 1%
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Nutrition and H&W Industry Growing at 2 to 7 Percentage Points More Than GDP
NCN NUTRITION CAPITALNETWORK
8.4%
6.6%
3.8%4.7%
6.6% 6.9% 7.2%6.5%
2.0%
-0.3%
-3.5%
3.0%1.7% 2.2% 1.8% 2.3%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
2007 2008 2009 2010 2011 2012 2013 2014
Nutrition and Health & Wellness Industry GDP Growth
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Industry Fundamentals: Market Share of Healthy Foods Rising Significantly; 13-29%
NCN NUTRITION CAPITALNETWORK
1.5% 1.7% 2.0% 2.2% 2.3% 2.4% 2.6% 3.1% 3.4% 3.9% 4.4% 5.0% 5.7% 6.1% 6.4% 6.5% 7.1% 7.6% 8.2% 8.8%2.6% 2.8% 3.1% 3.4% 3.6% 3.8% 3.9% 4.2% 4.5% 4.6% 5.0%
5.4%5.7% 6.0% 6.1% 6.5% 6.8% 7.1% 7.4% 7.7%
9.1% 9.3% 8.8% 9.1% 9.2% 9.2% 9.2%9.5%
10.1%10.6%
10.9%11.0%
11.1%11.3%11.4%11.6%
11.7%11.8%
12.0%12.1%
0%
5%
10%
15%
20%
25%
30%
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Natural & Organic Foods Functional Foods Lesser Evil Foods
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U.S. Natural & Organic Food Sales & Growth: Natural vs. Organic, 2002-2015
NCN NUTRITION CAPITALNETWORK
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e 2014e 2015e0%
5%
10%
15%
20%
25%
Natural Organic Natural Growth Organic Growth
Source: Nutrition Business Journal
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U.S. Natural & Organic Food Sales & Growth by Channel, 2002-2015
NCN NUTRITION CAPITALNETWORK
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e 2014e 2015e0%
5%
10%
15%
20%
25%
Natural & Specialty Retail M ass M arket Retail
Natural & Specialty Retail Growth M as M arket Retail Growth
Source: Nutrition Business Journal
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U.S. Natural & Organic Sales & Growth by Product Category
NCN NUTRITION CAPITALNETWORK
CategoryOrganic Sales
Organic Growth
Natural Sales
Natural Growth
Total Food Sales
N&O Penetration
Dairy 4,350 7.0% 3,310 30.8% 73,210 10.5%
Fruits & Vegetables 9,860 12.8% 2,590 10.2% 128,570 9.7%
Breads & Grains 2,690 8.1% 3,700 9.6% 74,160 8.6%
Meat, Fish & Poultry 820 12.9% 2,390 13.9% 154,050 2.1%
Beverages 3,120 9.7% 5,860 10.5% 135,400 6.6%
Snack Foods 1,340 15.2% 1,720 9.8% 43,230 7.1%
Pack'd Prep'd Foods 3,210 9.9% 2,850 9.4% 72,830 9.7%
Condiments 920 15.5% 1,090 8.7% 22,040 9.1%
Total 26,310 10.8% 24,490 12.7% 703,490 7.2%
Source: Nutrition Business Journal: 2012 data
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U.S. Growth in Healthy Foods ($188 B in 2014) vs. Total Foods ($654 B in 2014)
NCN NUTRITION CAPITALNETWORK
6.0%
2.5%2.1%
4.7%4.8%4.7%
1.7%0.9%
1.6%1.6%2.4%2.3%2.1%
1.6%0.8%
1.7%2.1%2.0%1.9%
10.4%
3.2%
7.5%8.0%
7.1%7.2%6.8%
8.4%8.9%
7.4%8.1%7.7%
6.0%
3.3%3.6%
6.3%6.1%5.9%5.9%
0%
2%
4%
6%
8%
10%
12%
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Total Foods Growth Healthy Foods
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U.S. Growth in Supplements ($35 B in 2013) vs. Prescription Drugs ($330 B in 2013)
NCN NUTRITION CAPITALNETWORK
15.3%
19.4%18.7%16.9%
11.8%11.6%
8.3%
5.4%
9.1%
4.6%
1.3%
5.1%
2.3% 3.0%
-1.0%
3.2%
11.0%10.8%
6.5%4.9% 4.7%
3.7%5.7%
2.9%4.5% 5.4% 6.1% 6.4% 6.0%
4.4%
7.7%6.5%
7.5%
3.5%
-5%
0%
5%
10%
15%
20%
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Rx Growth Supplement Growth
Rx: The “patent cliff” of expiring blockbusters has bottomed out; a peak of 48 drugs lost exclusivity in 2012, only 20 did in 2013, and 25 in 2014; Although the US FDA routinely gets excoriated for delaying the introduction of new drugs, over the 2008-2012 period, 104 new medicines were introduced in the USA.
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Transaction and Dealflow Trends
NCN NUTRITION CAPITALNETWORK
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Summary of NCN Deal Flow by Segment: June 2007 to December 2014
NCN NUTRITION CAPITALNETWORK
Segment Number of Cos. % of Cos.Natural & Organic Foods 710 35%Ingredients 294 15%Supplements 264 13%Natural PC & Household 178 9%Functional Beverages 157 8%Technology 129 6%Retail & Service 101 5%Functional Foods 88 4%Media 20 1%Packaging 14 1%Other 57 3%Total 2,012
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Nutrition and Health & Wellness Industry Transactions Growth Confirm Investor Interest
NCN NUTRITION CAPITALNETWORK
7.9 9.7 8.7 9.1 21.4 Avg. Size of financing203244260253372Total Transactions626310193204Financings
141181159160168Total M&A829312747Others: Tech, Fitness, Pet
6577626952Nat’l & Organic, Functional Food8129411OTC and Personal Care84598Contract Manufacturing
2731263021Ingredients1519171118Supplements10991011Retail & Distribution
20102011201220132014M&A
7.9 9.7 8.7 9.1 21.4 Avg. Size of financing203244260253372Total Transactions626310193204Financings
141181159160168Total M&A829312747Others: Tech, Fitness, Pet
6577626952Nat’l & Organic, Functional Food8129411OTC and Personal Care84598Contract Manufacturing
2731263021Ingredients1519171118Supplements10991011Retail & Distribution
20102011201220132014M&A
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Nutrition and Health & Wellness Industry Transactions: Financings Detail
NCN NUTRITION CAPITALNETWORK
63 102 93 204 Total NH&W Industry Financings8 18 7 18 Other-5 3 14 Technology - Software3 7 7 20 Technology - E-Commerce3 3 8 18 Technology - Devices: Analytical, Diag. & Monitoring3 11 9 28 Technology - Delivery Service
11 8 13 31 Technology - Apps, Information, Media3 3 4 6 Supplements3 4 4 9 Retail and Distribution-4 5 10 OTC & Personal Care5 7 5 6 Ingredients & Contract Manufacturers
20 26 23 33 Branded Food & Beverage4 6 5 11 Biotech & Agtech
2011201220132014
63 102 93 204 Total NH&W Industry Financings8 18 7 18 Other-5 3 14 Technology - Software3 7 7 20 Technology - E-Commerce3 3 8 18 Technology - Devices: Analytical, Diag. & Monitoring3 11 9 28 Technology - Delivery Service
11 8 13 31 Technology - Apps, Information, Media3 3 4 6 Supplements3 4 4 9 Retail and Distribution-4 5 10 OTC & Personal Care5 7 5 6 Ingredients & Contract Manufacturers
20 26 23 33 Branded Food & Beverage4 6 5 11 Biotech & Agtech
2011201220132014
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NCN NUTRITION CAPITALNETWORK
Nutrition, Health and Wellness2015’s Record Pace of Transactions
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NCN NUTRITION CAPITALNETWORK
2015’s Top Transactions (so far…)
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NCN NUTRITION CAPITALNETWORK
Opposites Attract (investors)
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Segments differentiated by early adoption, lifestyles, behaviors, and beliefs.
Source: NEXT, New Hope Natural Media
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Source: NEXT, New Hope Natural Media
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Ancient Wisdom
Harkening back to the days of pre-industrialized foods and a simpler way of life, the focus here lies on whole, nutrient dense ingredients and a “closer to nature” approach to processing.
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Time-Tested
Ingredients
Clean Labels
Natural Fats
Superfoods 2.0
Superfoods
Heritage
to Hipster
Healthy
Sweeteners
Sophisticated
Flavors
Pulses & Beans Adaptogenic
Herbs
Ancient Wisdom:
Manifestations in Market
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It’s about getting back to the basics with clean & simple ingredients that our ancestors may have used and that are often sourced from
other cultures and countries.
Kaibae Baobab
Fruit Powder Nature’s Path Qi’a
Superseeds & Grains
Time-Tested Ingredients
Ancient Wisdom
Kuli Kuli
Moringa Bar Ancient Harvest Amazing Foods
for Health
ANCIENT GRAINS
Dates back to B.C. Cultivated in India Superfood-
extremely nutrient dense
Over 1,000 years old Cultivated in Africa Superfruit-high in
antioxidants
Traditional side dish delivery with quinoa, millet and amaranth
Oatmeal offering but adds in buckwheat, chia, amaranth, hemp and quinoa
Cookie Mix with flour base of rice, flax, quinoa and amaranth
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“Old school” ingredients and maker-movement-like processing are helping to re-invent the old and sometimes forgotten.
Fire Cider Up Mountain
Switchel Tessamae’s Dressing
Heritage to Hipster
Ancient Wisdom
Used for generations as health booster/natural curative
Apple cider vinegar base
Green Goddess flavor features turmeric, today’s “It Girl” of healthy spices
Traditional Vermont drink made with apple cider vinegar and maple syrup
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The label bares all and tells a story about how you source and make your product. Keep it clean & simple, demonstrate trust and align on
consumer values to win.
Simply Gum Lesser Evil Buddha
Bowl Foods
Simple Mills Baking Mixes
Clean Labels
Ancient Wisdom
100% Natural Gum No synthetics Just 6 ingredients
Uses avocado oil, a trending healthy fat
3 ingredients: non-GMO popcorn, avocado oil and Himalayan sea salt
All non-GMO ingredients
7 natural ingredients
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Healthy sweeteners inch ever closer to outsmarting HFCS and our sweet cravings. Blends are the leading edge, with coconut sugar and
monk fruit especially on trend.
Madhava Ooey-Gooey Brownie Mix
Bumbleroot Drink Mixes
Healthy Sweeteners
Ancient Wisdom
Artic Zero Frozen Desserts
Koochikoo Cookies
Organic cane sugar Coconut sugar
Utilize monk fruit as sweetener
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No longer afraid of all fats, consumers are looking for healthy fats like coconut, avocado and other plant-based sources for
nutrition & satiety.
Earth Balance
Avocado Spread Melt
Jackson’s Honest Chips
Natural, Healthy Fats
Ancient Wisdom
Blend that includes coconut, palm fruit, and flaxseed oils
Made with avocado oil
Potato chips fried in coconut oil
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Feed Me! A global population of 10 billion will require a serious change in how we go about feeding the world.
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Sustainable Plant
Protein
Insect Protein Grass-Fed
Dairy & Meat
Sourcing Local
Feed Me!:
Manifestations in Market
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From eggless mayonnaise to meatless meats, the market for alternative plant-based proteins has seen a burst of innovation that is fueling rapid
growth. These products help ease dependence on resource-intensive animal protein and provide healthier and less-expensive alternatives to a protein-
hungry market.
Banza
Chickpea Pasta
Just Mayo ProTings
Sustainable Plant Protein
Feed Me!
High protein pasta made from chickpeas
Plant-based, eggless mayonnaise
Pea protein chips Pancake mix with
whey and plant protein
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Already a source of protein for millions across the world, the use of insects as an alternative protein is gaining momentum in the US, partly
because insects are high in protein but also because raising and harvesting them requires far less resources than standard meat options.
Chapul Bar Bitty Foods eXo Bar C Fu Mealworm Tofu
Insect Protein
Feed Me!
Cricket flour-based bars
Cricket flour-based cookies & baking mixes
Mealworm-based tofu replacement
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Sourcing ingredients within a moderate radius of the business can increase sustainability and community involvement while creating a simpler supply
chain and possibly a deeper consumer connection as well.
Three Twins Ice Cream First Field Jersey Ketchup
Sourcing Local
Feed Me!
Back to the Roots
Stoneground Cereal
Just 3 Ingredients-all sourced in USA
Wheat is grown & harvested in CA
All milk, cream & eggs are sourced within 17 miles of the factory
Sources all tomatoes from home state of New Jersey
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Transcendent
Transparency
Consumers are critically taking note of ingredients, marketing messages and the manufacturing process. A lack of transparency can result in a deep sense of distrust.
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Traceability
Certifications
& Labels
The Story
Truth in
Labeling
Transparent
Packaging
Growth of
Refrigeration
Ingredients
Up Front Compostable
Packaging
Transcendent Transparency:
Manifestations in Market
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Certifications act as badges of trust and are a quick and easy way for consumers to assess a product. But you have
to prioritize your communications wisely and maintain authenticity to avoid consumer fatigue and distrust.
Nutiva Red Palm Oil Rhythm Kale Chips
Certifications & Labels
Transcendent Transparency
Organic, non-GMO, fair trade sourced
Certifications help alleviate concern about contentious ingredient
Gluten-free, organic, non-GMO
Nello’s Biodynamic
Marinara
First U.S.-grown, biodynamic tomato sauce
Biodynamic methods protect soil quality and are said to produce tastier food
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Helping shoppers trace the origins of their product fosters a deeper connection with the brand. It builds trust in the product, process
and sourcing which addresses consumer desires to feel confident in the quality and social/environmental impact of their purchase.
Fish People Cisee One Degree Cereals Cat Spring Tea
Traceability
Transcendent Transparency
Ability to trace origins of your meal and meet the fisherman who caught it
Can use QR code on box to trace back to the family farm
Fair trade, non-GMO and fully traceable hot chocolate. Names contract manufacturer on label
Wild harvests Yaupon for this tea from family land in Cat Spring, TX
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Simple formulations with nothing to hide. Listing every ingredient on the front of the package may build consumer trust and confidence.
Temple Tumeric Haagen-Dazs Five Bolthouse 1915
Ingredients Up Front
Transcendent Transparency
Ice cream with just 5 ingredients, prominently displayed on front of package
Cold-pressed juice line Tumeric beverages with all ingredients listed on front
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Like buying from a local company, a connection is fostered when consumers feel they know the people behind a product. Personal,
humanizing stories are powerful and differentiating.
Jackson’s Honest Chips Fat Toad Farm Caramel Dave’s Killer
Bread
The Story
Transcendant Transparency
Started out of a desire to find a healthier, anti-inflammatory snack for their children
Tells story through social media
Includes daily updates on goats and photos of caramel processing and goat milking
Started by family-run bakery business to give his brother a 2nd chance as an ex-convict
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Food Tribes
We are becoming a nation of food tribes – communities bound together not only by what we eat but also by our personal values, beliefs and behaviors.
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Gluten-Free
Paleo It’s a
Lifestyle
Vegan Pegan
Food Tribes:
Manifestations in Market
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Whole, unprocessed foods is a core tenet of the paleo diet, but the category is slowly adopting more packaged food products.
Jackalope Good Food Co.
Cappello’s The New Primal
EPIC
Paleo
Food Tribes
Grassfed meat-based bar (bison, turkey, beef, lamb)
Grain-free bread & baking mixes
Grain-free pastas Recently introduced a
paleo cookie dough
Grassfed meat-based trail mixes
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Neat
Meat Replacements Treeline Cheese SO Declicious
Beyond Meat
Beast Burger
There’s a spectrum among this food tribe as many Americans are adopting diet cues from Vegans to reduce their intake of less healthy
ingredients and environmental impact as plant-based alternatives bring ‘meat’ and ‘dairy’ back onto the plate.
Vegan
Food Tribes
Artisan nut cheeses Fermented cashew base Avoids “fake cheese”
taste
Pioneer in alternative dairy
Coconut, almond and soy based products
Burger texture appeals more to flexitarians
Most appealing to those who enjoy meat
Healthy meat replacement derived from nuts
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Blurring the lines of difference, some products are finding success catering to multiple food tribes. One prevalent
example is the Pegan (Paleo Vegan).
Dang Coconut Chips Vixen Kitchen
Gelato
Zaza Snacks
Pegan
Food Tribes
Vegan, raw, paleo desserts Made with whole fruits,
vegetables, nuts and natural sweeteners
Vegan coconut chips positioned around paleo favorite: bacon
Vegan, paleo cashew-based gelato
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Food tribes aren’t just about food. For many it’s a lifestyle that goes beyond the food and beverage category. Their restrictions and beliefs extend to other categories such as health & beauty.
Primal Pit Paste
The Dirt Trace Mineral
Tooth Brushing Powder
JASON
Gluten Free Shampoo
It’s a Lifestyle
Food Tribes
Organic, all natural deodorant
No gluten, GMOs or aluminum
Unlike glycerin, dirt supports tooth re-mineralization process
Gluten-free beauty care
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Rehabilitation of
Science The role of food science is being reframed to embrace the spirit of natural products while addressing societal concerns – it’s a pivot that moves toward rebuilding consumer confidence and following consumer demand.
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Green Chemistry
Beauty from
Within NourishTech
Probiotics Brain Health
Clean Energy
Rehabilitation of Science:
Manifestations in Market
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Silicon Valley’s gaze is falling on food tech and the prospect of fixing food to solve large societal problems.
Clara Foods
NourishTech
Rehabilitation of Science
Beyond Meat
Mission is to create mass market solutions that perfectly replace animal protein with plant protein
San Francisco-based biotech startup working to make animal-free egg whites
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Bottega Organica Goddess Garden
Organics
When it comes to what we consume, people prefer the imagery of aprons over lab coats. However, some companies are figuring out
how to put the imagery of science to good use.
Green Chemistry
Rehabilitation of Science
Uses medicinal plants and natural ingredients only (100% Natural) focused on healthy aging.
Developed by geneticist who was studying a cure for cancer
Uses only natural & organic ingredients Cleans up products often loaded with
chemicals Innovating in sun care category
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Ozuke Jarrow Formulas
Yogurtein
Probiotics continue to be hot, showing up in new supplement formulations, cosmetics, greens powders, snacks and fresh-pressed
juices. Even more innovation is on the horizon.
Ohso Chocolate
Probiotics Pop
Rehabilitation of Science
Good Greens
Line of fermented foods High in live & active
probiotic cultures
Yogurt/whey blend with probiotic benefits
Probiotic chocolate bar Fruit & vegetable bar with probiotics included
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The energy beverage craze pivots toward natural sources and away from synthetic additives and caffeine.
Guayaki Runa Sambazon Gr3en Energy
Clean Energy
Rehabilitation of Science
Several energy beverage formats
Uses yerba mate as energy source
Uses guayusa, an Amazon super-leaf packed with natural caffeine
Sources of energy are yerba mate, green tea and guarana
Sources of energy include green tea and guarana
Kale-based
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Snackification
Symptomatic of an always-on culture often in need of fuel, snacking has evolved and the plain potato chip won’t cut it anymore. Snacks must be easy, tasty and nutritious.
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Pouch
Packaging
Convenient
Nutrition
Coconut
Reimagined
Savory
Snacking
Cooking
Made Easy
Yogurt Juices
Snackification:
Manifestations in Market
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The twin pillars of commerce—make it cheap, make it convenient—stand on shakier ground in natural products, but there is a clear demand for higher
quality snack foods that deliver convenience and nutrition.
Veggie-Go’s
Fruit & Veggie Snacks
Navitas Tumeric
Tamari Almonds
Snack Out Loud
Power Puffs
Convenient Nutrition
Snackification
Nutrient dense fruit & veggie snack leathers
Highlight vegetables in form dominated by fruit
Bean & rice puffs made with coconut oil
Complete protein & fiber rich snack
Flavorful almond snack packed with superfoods
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Convenience trumps price and pouch packaging reigns supreme. Putting old standbys into pouch form can increase a
product’s convenience and usability.
Plum Organic Soups
Batter World
Pancake Batter YumButter Munk Pack Oatmeal
Pouch Packaging
Snackification
Easy to pour pancake batter – no mixing, no mess
Nut butters in pouch allow you to eat anywhere
Oatmeal in pouch form makes easy to eat on the go
Soup in pouch form
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As the concerns about sugar continue to grow, many food categories built around sweet flavors are expanding to savory and global taste profiles.
Mediterra Savory Bars
Good Culture
Clif Energy Food
Savory Snacking
Snackification
Available in flavors like Black Olive & Walnut and Sundried Tomato Basil
Cottage cheese offering in flavors like Sundried Tomato and Kalamata Olive
USDA Organic tomato puree Replaces hyper-sweet sports
gels
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Shoppers still value meals made at home but don’t always have the time to prepare them from scratch. Meal prep kits with clean
ingredients are at the forefront of enticing options.
Beetnik TableCookSimple Meals
Cooking Made Easy
Snackification
Frozen meals with fresh, simple ingredients
No GMOs, no artificial ingredients
Boxed meal starter kits
High quality ingredients (grassfed, pasture-raised, organic)
Made with whole foods and a simple ingredient list
Bean & Lentil based meals
No artificial colors or preservatives
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Value(s) Shopper
Consumers are moving beyond price as their single purchasing filter as a new and complex world of values now influences purchasing decisions.
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Sustainable
Sourcing
Environmental
Sustainability
Food As Medicine
Mission-Based
Brands B Corps
Value(s) Shopper:
Manifestations in Market
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From considerations about how and where raw materials are grown and sourced to the wages of those who do the growing and
harvesting, there’s a growing focus on sourcing raw materials responsibly and sustainably.
Harmless Harvest Safe Catch Big Tree Farms
Sustainable Sourcing
Value(s) Shopper
Sources organic coconuts from Thailand
Coconuts are picked by hand as part of non-destructive cultivation
Sourced from captains whose methods minimize environmental impact
Every single fish is mercury tested
Indonesia’s largest organic food company
First and only certified fair trade coconut sugar
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OneCoffee K Cups
Chia Pod
Bircher Muesli
Bearded Brothers Bars Loliware
Environmentally Sustainable
Value(s) Shopper
99% compostable K-cups Compostable cups Made of materials so
natural they are safe to eat
Compostable packaging
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Get those supplement ingredients into food and get your functional benefit naturally. Both logic and emotion are driving consumers towards an increased awareness that food is a form of medicine.
Sweet Earth Functional Burritos
GoodBelly TuMe Tumeric Drinks
Food As Medicine
Value(s) Shopper
Plant-based protein burritos with food ingredients added for functional benefits
Includes “Get Cultured”, “Get Focues”, “Stay Zen”
Sports drink that uses raw tumeric root to promote additional benefits (anti-inflammatory, detox, etc.)
Adds probiotics to juice mixes to support gut health
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Mission-based brands help consumers do good with their purchasing power. Conscious consumers can help others
through the products they choose to buy.
Make a Stand Lemonade
Sunshine Nut Company
Mission-Based Brands
Value(s) Shopper
Began as a lemonade stand run by an 8-year old to end child slavery
Roasting facility in Mozambique employs adult orphans
Re-invests 90% of proceeds in Mozambique communities
Giv Foods
Donates half of all profits from sale of its veggie burger products to charities its customers help choose
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trends are moving faster than ever into the
mainstream. So pay attention!
Natural Products Adoption Curve
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NCN NUTRITION CAPITALNETWORK
What is NCN
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NCN NUTRITION CAPITALNETWORK
• The mission of Nutrition Capital Network (NCN) is to:– Facilitate the financing process for small to mid-size companies– Introduce investors to the next generation of successful brands
and technology in the nutrition, health & wellness, and natural/organic product industries.
– Create a vibrant network for collaboration and partnerships
NCN will accomplish this mission by:– Creating a series of meetings, events, and virtual tools to
connect companies and investors– Facilitating capital flow for the betterment of business and
society
• Since October 2007, NCN has hosted 25 investor meetings and presented 441 companies, 54% of which have raised capital or completed some sort of transaction.
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Presenters: 441 companies have presented at 25 meetings since 2007 from a dealflow list of more than 2,200 applicants
Investors: 260 investor entities have attended NCN investor meetings from strategic investors in CPG, food, pharma and ingredients, to professional investors in private equity & venture capital and family funds, to former industry owners, high-net-worth individuals and angel investors; Cornerstone Investor members number 40 in 2015
Sponsors: Specialist service providers: 9 in 2015 in law, IB, recruiting, PR
Selection Committee: Industry experts who help recruit, select and mentor presenting companies at each meeting: 25 in 2015
Note: NCN is a private company supported by Cornerstone Investor subscription membership fees, investor meeting registrations, sponsorship fees and presenter fees. NCN makes no fee on transactions, but principals or selection committee members may invest or take positions in NCN companies. Information provided by NCN does not constitute investment advice nor the offer to sell any securities in any jurisdiction.
NCN NUTRITION CAPITALNETWORK
NCN’s Network or ‘Ecosystem’
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NCN investor meetings are presented in association with• NCN Law Firm Sponsor: Venable LLP• NCN Investment Banking Partner: Silverwood Partners• NCN Life Science Innovation Partner: SPRIM• NCN Clinical Research Partner: KGK Synergize• NCN Executive Search Partner: Leadership Capital Partners• NCN Industry Advocacy Partner: New Hope Natural Media• NCN Communications Partner: Christie Communications• NCN Technology Commercialization Partner: Specialty Nutrition Group• NCN Natural Product Formulation Partner: MetaBrand• NCN Government Trade Partner: New Zealand Trade & Enterprise
NCN 2015 Sponsor Partners
NCN NUTRITION CAPITALNETWORK
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• Grant Ferrier, Co-Founder, NCN Principal & CEO• Thomas Aarts, Co-Founder, NCN Principal• Greg Horn, SNG, Prinicipal, Chair of Screening Committee• Steve Allen, Co-Founder, NCN• Mike Dovbish, NCN Executive Director• Edward Hauck, Ed Hauck Consulting• Marie Benedix, A Bigger Fish Bowl • Matthew Roberts, NBTY, Abbott Nutrition, Nestle• Carlos Barroso, Campbell Soup Co.• Lara Burns, former SPINS (cont.)
SCREENING COMMITTEE
NCN NUTRITION CAPITALNETWORK
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• Steven Schultz, Align Partners• Tim Avila, Systems Bioscience• Ian Newton, Ceres Consulting• Beverly Emerson, Olive Tree Product Development• Mike Burgmaier, Silverwood Partners• James Tonkin, Healthy Brand Builders• David Thibodeau, Wellvest Capital• Brad Barnhorn, Board Advisor• Bob Burke, Natural Product Consulting• Lauren Clardy, NutriMarketing
NCN NUTRITION CAPITALNETWORKSCREENING COMMITTEE (cont.)
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• Keith Kohler, Industry Advisor, GF Solutions• Dr Geoffrey Margolis, Inventor, President & Founder of
NFF Inventions and New Food Frontiers, Nestle• Eric Schnell, Founder, MetaBrand, Entrepreneur, Co-
founder & former President of Steaz
SCREENING COMMITTEE (cont.)
NCN NUTRITION CAPITALNETWORK
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o NCN Europe II: 16 companies presented in May in Geneva, Switzerland
o NCN XVI: New York: 20 companies in Mayo NCN Ingredients & Technology Investor
Meeting VII at SupplySide West, October 6, 2015, Las Vegas – 12-14 companies present
o NCN XVII, November 3-4, 2015, Hilton San Francisco Financial District - 20 companies present
NCN NUTRITION CAPITALNETWORK
NCN 2015 CALENDAR
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o NCN Europe III: 16 companies present, May 9, 2016, in Geneva, Switzerland
o NCN XVIII: New York, NY - 20 companies in May 2016
o NCN Ingredients & Technology Investor Meeting VIII at SupplySide West, October 2016, Las Vegas: 15 companies present
o NCN XIX, November 2016, San Francisco: 20 companies present
NCN NUTRITION CAPITALNETWORK
NCN 2016 CALENDAR
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INVESTMENT FOCUSCompanies in the nutrition and health & wellness industry
across the value chain including the following sectors:
Dietary Supplements: VMS, H&B, Sports, LMRs
Ingredients, Medical Foods, Technology for OTC/Pharma
Natural & Organic Foods H&W Enabling Technology
Functional Foods Health & Fitness; Green Products
Healthy Foods, BFY Foods Weight Loss
N&O Personal Care, Cosmetics Household and Pet Products
NCN NUTRITION CAPITALNETWORK