Amit Pandhi is the CEO of Velocity Snack Brands (VSB), a data and digital driven better-for-you snacking platform that seeks to acquire, incubate and grow a portfolio of iconic brands in the salty snacks, sweets and nutrition bar category. VSB’s first acquisition was Popchips, one the leading better for you snack brands in North America.
Prior to joining VSB, Pandhi served as President and CEO of Arctic Zero, a low-calorie ice cream, bootstrapping the brand from inception to being in over 18,000 doors.
This Episode’s Heavy-Hitters:
- Amit’s long haul of bootstrapping Arctic Zero eventually led to him being able to exit via an acquisition of the brand, which gives him a unique insight into acquiring other snack brands now through VSB.
- Amit doesn’t play favorites but still lets us in on what his favorite snacks are right now in the VSB portfolio.
- Breaking down the fundraising game, Amit explains his perspective that once you get into fundraising, your focus is on that more so than the product, while bootstrapping forces you to build a strong product with good margins from the beginning.
- For those trying to get into the CPG or Food and Beverage space “you’ve got to move fast, you’ve got to break things, and you’ve got to be fiercely defiant of the status quo.”
- Be able to take out your own trash no matter what your position in the company; Amit says he is willing to do any job as they’re all rowing the boat together.
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2:03 - Drowning in CPG industry / Sampling overloaded
3:30 - The Early Days
4:43 - First Product Sold
6:18 - Team bootstrap
7:43 - Profit Margins at the start
8:53 - The Punchout phase
11:00 - Acquisition of Popchips
11:48 - Key learning from acquisition
12:49 - Sales growth since acquisition
13:45 - Favorite snack
14:56 - Industry other than CPG
15:51 - Advice to founders/startups on Fundraising
19:24 - Brand Awareness
20:58 - New Junk Food in the market
22:28 - Guilty Pleasure snack
25:33 - Key attributes to look for in a brand
26:31 - Advice for getting into CPG
27:06 - The Hiring Process
28:19 - Go-to interview Questions
30:37 - Deal Breaker in an interview
32:11 - Biggest mistake/toughest lesson learned
33:42 - How to keep energy/culture alive
36:57 - Greatest piece of advice
38:01 - Greatest professional accomplishment
39:35 - Amit's North Star