CanDo Expands Distribution; Will Bring On New CEO
Keto-friendly protein bar maker CanDo is racking up distribution gains by landing additional flavors in existing accounts Whole Foods Market and Sprouts, all while preparing to onboard a new CEO following the departure of Matt Clifford last month.
CanDo expects to announce its new CEO within the next 60 days, according to founder and current acting CEO Adam Bremen. During his search for a new chief executive, Bremen said he sought out “somebody who has been there and done that with exceptional experience” and who could take the business from $15 million in revenue to $100 million in revenue and beyond.
However, he emphasized it is also important that the individual shares the brand’s ethos.
“I focus on what the individual brings to the table in terms of experience and how they can help us build a championship team, embodying the CanDo spirit each and every day,” Bremen told NOSH. “I am a winner, I want to win a championship. In this industry, the closest thing to that is an exit at the appropriate time if it’s a good fit. If we’re doing what we’re capable of doing, we’ll have touched a lot of customers and that will, in turn, be fruitful for everyone.”
One year after hitting the market, the bar brand brought on former Barnana COO and co-founder Matt Clifford as CEO in 2020 and transitioned from the name Keto Krisp to its current moniker. During his tenure, Clifford helped scale the brand from sub $1 million to $15 million in less than three years.
In a LinkedIn post, the former CEO called his time at the bar producer “some of the most rewarding work of my career.”
CanDo currently produces a 9-SKU line of bars including flavors such as Salted Peanut Butter, Chocolate Mint, Almond Butter Blackberry Jelly and its most recent addition, Yuzu Lemon. Bremen, who has cerebral palsy and uses a wheelchair for mobility, said he was inspired to launch the brand when he switched to the keto diet several years ago and lost over 65 pounds.
Bremen said the company is focused on expanding distribution of its bars before potentially exploring new categories.
CanDo is also going deeper with Whole Foods, which already carries several of the brand’s SKUs, with a pickup of its Salted Peanut Butter flavor. Additionally, the brand landed its Yuzu Lemon and Salted Peanut Butter varieties in Sprouts Farmers Market, which also sells the brand’s eight other flavors.
In total, CanDo’s products are currently available in 9,500 doors nationwide. Brick-and-mortar retail currently accounts for 70% of the brand’s sales while e-commerce (including the brand’s direct-to-consumer website and Amazon) makes up 30%, though Bremen hopes to better balance the channels “efficiently, effectively and authentically.”
According to a recent consumer report from Mintel, though food and drink prices are weighing heavily on U.S. consumers, bars are well-prepared to weather the storm thanks to their positioning as a convenient at-home food that “persists effectively amid hybrid work, financial stress and general fatigue.” Approximately 75% of surveyed consumers reported plans to maintain or increase their category purchases in 2023.
“We are relentless in providing our customers a great eating experience that offers healthy benefits. Equally important to CanDo is authenticity and connecting with customers,” said Bremen. “I want to continue to focus on one customer, one bar, one retailer at a time.”
