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SOPHIE’S KITCHEN INVESTMENT OPPORTUNITY
AMERICA’S LEADING
VEGAN SEAFOOD ALTERNATIVE
For decades, Taiwan has been at the forefront in the development and production of cutting edge meat alternatives. This revolution has been led by the family of Eugene Wang.
OPPORTUNITY
Explosive consumer demand growth for meat alternatives
Countless beef & chicken alternatives now on the market
BUT Where’s the seafood?
38% of the U.S. population seek alternatives to meat, fish, eggs, & dairy. Global Market for meat alternatives growing fast.
% of US Population
Vegans
Vegetarians
Flexitarians
Meat Reducers
0% 10% 20% 30% 40%
14%17%
17%
5%
5%
5%
2%
2%
2%
2%
MARKET OPPORTUNITY
Source: Mintel US Consumer Data August 2013; Markets and Markets
$5.7B 2020 Global Meat Alternatives market (Proj.)
6.4% CAGR
RECENT INDUSTRY ACTIVITIES
BEYOND MEAT has raised $17 million in a Series E round from exis5ng investor Obvious Ventures. Other investors in the company include Closed Loop Capital, Kleiner Perkins Caufield & Byers, Bill Gates, and S2G Ventures.
IMPOSSIBLE FOODS raised $108 million in a new round of funding from investors that include Bill Gates and Hong Kong businessman Li Ka-‐shing's Horizon Ventures.
QUORN FOODS was sold to Philippine consumer goods firm Monde Nissin for US $831 million.
GARDEN PROTEIN INTERNATIONAL (dba Gardein) was acquired by Pinnacle Foods for US $154 million.
It all started when founder & CEO Eugene’s daughter, Sophie, suffered a severe allergic reaction to seafood.
Eugene knew that sales of alternatives to chicken and beef were growing at an unprecedented rate, but no one was meeting the need for a safe, healthy and sustainable alternative to seafood.
SOPHIE
Founded Sophie’s Kitchen to create delicious alternatives
ALLERGENS SAFETY SUSTAINABILITY
ENTER SOPHIE’S KITCHEN
&
Seafood contains high levels of mercury
Seafood is among the most common allergies (3.4% of Americans)
Overfishing and fish farming may lead to collapse of all fish species by 2050
We recognized 3 key concerns around:
PRODUCTSophie’s Kitchen uses innovative, superfood ingredients to develop delicious seafood alternatives for any occasion.
We are inspired by our wish to provide our daughter, and families everywhere, with a safe, healthy, and sustainable meal
MISSION COMMITMENT
• Non-GMO Project Verified • Free of Soy, Gluten and all Top 8
Allergens • Certified Kosher • Vegan • No Trans Fats • No artificial colors, flavors or
preservatives
PRODUCT: OUR IPSophie’s Kitchen uses a patent-pending process to make our products out of pea protein and the superfood konjac root.
PRODUCT: CURRENT OFFERINGS
PRODUCT: UPCOMINGIn 2016 we are expanding our product line and introducing new frozen entrees to meet additional consumer needs.
SALES AND DISTRIBUTIONWe are distributed by America’s largest natural distributors and sold in over 1,000 retail outlets across the country.
PRESS & AWARDS
FEATURED IN
WINNER OF VEGNEWS MAGAZINE'S 2011 BEST NEW VEGAN PRODUCT AWARD
TEAM
STEVE TERRE Director of Business Development 30+ years in natural food sales, with 18 years with Traditional Medicinals
SUSAN CARSKADON Director of Marketing 30+ years in unique product category innovations (from conception to operations to distribution)
EUGENE WANG Founder & CEO 20+ years in vegetarian food manufacturing. MBA degree from Columbia Business School
ADVISORY BOARDJason Mahon Nearly 15 years founding, building and advising natural foods companies in areas of finance, accounting and management. Experience in private and publicly appointed board positions, as a CFO, and in both audit management and control roles.
Ian Rose CEO of fast-paced rich media authoring technology company. Background as attorney with over 20 years of experience in premier law firms and as General Counsel of technology companies.
Bill Sipper Former President of Cascadia Consulting Group LLC
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
2012 2013 2014 2015P 2016P 2017P
$3,500,000
$2,000,000
$1,100,000$1,041,434$884,709
$377,896
FINANCIALS: REVENUE
Revenue
$0$3,000,000
2013 2014 2015P 2016P 2017P
$3,500,000$2,000,000$1,100,000$1,041,434$884,709$377,896
FINANCIALS: MARGINS
$256 $261 $420 $680 $1330
29% 25% 30% 34% 38%
Gross Profit (000s)
GM %
$750,000 TO FUND:
• New product launches and R&D
• Inventory
• Marketing
• Expansion of our sales and marketing team in key regions
ASK