The New Mac & Cheese Brand, Already at $100M Run Rate In Cash
Registers Sales and Growing More Than 10X Faster Than Its Category, Expands Its Leadership
Team
GOODLES,
the mac and cheese and pasta brand known for its delicious taste, premium
nutrition, adventurous flavors, and bold packaging, announces Chris Hall as its
new Chief Financial Officer. Hall is a seasoned financial executive with a
track record of guiding companies from early-stage startups to Fortune 100
leaders. Most recently as CFO of Sovos Brands, he led that portfolio of CPG
brands, which included Rao’s, through acquisition by Campbell’s for $2.7
Billion. He joins GOODLES as the
brand enters a phase of unprecedented growth.
GOODLES
has been making waves in the mac and cheese category since hitting shelves 2.5
years ago. Launched as a mac brand not just
for kids anymore, GOODLES set out to
grow the category by winning over a more sophisticated, health-conscious
demographic with clean ingredients, protein, fiber, nutrients, and bold
flavors. Its scrappy, playful marketing and rapid product launches have won
over fans of all ages across the U.S., and it’s now driving most of the
category’s growth.
Some
GOODLES growth indicators, only 2.5
years after the brand’s retail debut:
GOODLES
sells one box every second, double last year’s rate.
In 2023, GOODLES’
sales more than tripled YoY. This year, sales will more than double.
More than $2M of GOODLES were bought at cash registers across the US last week
alone; which is more than $100M run rate at retail.
GOODLES’
sales are, on average, 67% incremental to the category – coming from net new
customers buying mac and cheese for the first time. At one national Mass
retailer, 81% of GOODLES shoppers
are incremental to the category; at one Club retailer, it's 84% incremental. GOODLES is indeed bringing people back
to Mac.
GOODLES
is now delivering higher dollar velocities (Average Weekly Dollars per Store
Selling per Item) than 87-year-old Kraft and 35 year-old Annie’s1.
GOODLES
is the #7 fastest-growing natural food brand in all of U.S. grocery2.
Bain identified GOODLES as an Emerging Insurgent Brand, growing more than 10x
faster than its category, indicating future Insurgent status.
In the past 24 weeks, GOODLES dollar sales grew 137%, while all top brands in the
category and the overall mac and cheese market declined3.
“GOODLES is experiencing explosive growth, and we’re just getting
started. GOODLES is only in a fraction of the total possible doors; we
are rapidly growing the SKU count in nearly every account we're in, and our new
Squeezy Cheese format is a whole new, giant subcategory for us - with yet more
innovation to come. As we race to keep up with all this momentum, our focus
remains on expanding our rockstar team, which is committed to creating a
legendary product and brand to generate legendary business results. Bringing
Chris Hall on board is an exciting step forward for us," says Jen Zeszut,
Co-Founder and CEO of GOODLES.
"Chris's extensive and spot-on experience makes him a powerhouse partner
to help drive our continued success."
Chris Hall brings a
wealth of experience to GOODLES. He
led financial operations at Sovos Brands – home to iconic names like Rao’s,
Michael Angelo’s, and noosa. There, he played a pivotal role in orchestrating a
successful IPO and subsequent merger transactions, culminating in the company’s
acquisition by Campbell’s earlier in 2024. Under his leadership, Sovos Brands
saw its net sales soar over $1 billion, nearly 7x growth, with a 37.5% CAGR
improvement. Prior to joining Sovos, Chris held financial leadership roles as
CFO for Nutrabolt and PepsiCo, where he most recently served as CFO for Quaker
Foods and Sabra Hummus. He consistently delivered strong financial results and
growth initiatives, earning respect as a leader and becoming a sought-after
advisor in the industry.
Reflecting on his path
from public company CFO to GOODLES,
Hall expressed his enthusiasm, “The brands within Sovos were very special. I
thought I’d never again see that kind of growth, category incrementality, and
brand love. When I connected with Jen and the team and learned about the GOODLES business and how much people
love these products, I knew I wanted to be involved in shaping what’s possible
and driving us there. What GOODLES
has accomplished and how fast we’ve done it is highly unusual.”
Since its launch, GOODLES has won over consumers with its
unique twist on classic comfort food. The level of fan love for the brand is
strong – fans have shown off GOODLES tattoos,
costumes, ballads, poems, commercials, and even homemade GOODLES shoes. Cheddy Mac and
Shella Good are the most talked-about
Costco items across four states4.
###
ABOUT GOODLES
GOODLES
makes noodles, gooder. The brand launched in November 2021, born out of the
idea that mac and cheese is a cornerstone of pleasurable eating and loved by
all ages, yet nutrition and deliciousness are too often at odds. Made with a
proprietary noodle recipe that looks, tastes, cooks, and chews just like the
noodles we all love, all GOODLES mac and cheese and pasta products include
protein, fiber, prebiotics, and 21 nutrients from plants. Plus, it’s a Low
Glycemic Index food and is the first boxed mac and cheese to win the coveted
Clean Label Purity Award. Located in Santa Cruz, CA, GOODLES is committed to
giving away at least 1% of all products sold to organizations that address food
insecurity.
1.
SPINS Data, MULO, Average Weekly Dollars per Store Selling per Item,
12 weeks ended 8/11/24.
2.
SPINS Data, L52 Weeks ending 4.21.24, Natural
and MULO sorted by Unit % Change, powered by Circana.
3.
SPINS Data, MULO, 24 weeks ended 8/11/24.
4.
CouponBirds, by reviewing content on various social media sites like
Reddit, Facebook, and X, formerly known as Twitter.