Dive Brief:
- Goodles, the viral better-for-you mac and cheese company, has appointed food industry veteran Chris Hall as its next chief financial officer. Hall was recently CFO of Sovos Brands — where he led a portfolio of CPG brands, including Rao’s — through its acquisition by Campbell Soup for $2.7 billion.
- The newly minted finance chief is stepping into his role at a time of unprecedented growth, according to the company. In 2023, Goodles sales more than tripled year-over-year and this year they are on track to double, it said.
- As the company looks to make its way into more households, Hall told Food Dive in an emailed statement that his focus will be on brand momentum.
Dive Insight:
Goodles launched in 2021 with a more nutritious boxed mac and cheese product that incorporated protein and fiber into its noodles.
Now, the company is looking to expand into more categories, after launching its first deluxe line of products last month.
In terms of strategizing as CFO of a small startup as compared to his role at Sovos, Hall noted, “there are actually many more similarities than differences, especially on the commercial side.”
“The approach with retailers is also very similar, given similar brand attributes such as very strong velocities, high incrementalism, and premium positioning,” Hall said. “What’s unique about GOODLES, and what I’m still trying to understand, quite honestly, is the level of fanaticism that people of all ages have for this mac and cheese.”
Hall said that each new product line has expanded its customer base, and that there hasn’t been any cannibalization in the category.
While at Sovos Brands, Hall saw through the acquisition by Campbell Soup Company. The $2.7 billion deal allowed the CPG to add pasta sauces, dry pasta, soups, frozen entrées, frozen pizza and yogurts to its portfolio.
Though Goodles is at a very different point of growth, and still focused on household penetration, Hall said that both approaches to retail have similarities.
“Both businesses started with household penetration in the low single digits and grew very quickly, and many of the trial-driving tactics are similar, such as leveraging strong word of mouth, social media, and in-store retail marketing.The approach with retailers is also very similar, given similar brand attributes such as very strong velocities, high incremental, and premium positioning,” he said.
