“The timing is right for us to spend $100m next year,” says the CEO | So Good News
“In the end we were able to go through several bakeries, which gave us a variety of options but were ineffective,” he said.Bobo CEO TJ McIntyre told FoodNavigator-USA.
“This new building has everything under one roof at 123,000 square meters. It is as big as Costco. We believe that the stage is ready for us to spend $100m next year and win over consumers in the cereal group, the food group.”to
The new facility will give Bobo $120m in manufacturing capital and plenty of room to grow over the next few years as the company meets consumer demand that has been limited due to production restrictions.
“Our top line will grow 45% this year and could be as high as 70% with the exit of stocks,”said McIntyre.
“And this is the most difficult and sad thing we can do in business because we don’t spend time talking about clean spaces, and as CEO I don’t spend time with my sales team in an extraordinary way because there is no great opportunity. to think about opportunities and growth. Instead, we have to work hard to let’s fulfill what is coming to us.” to
Super bakery, great size
Its new, high-quality roasting equipment includes automatic equipment that lowers the bar in Bobo’s signature style. One of these machines, affectionately named ‘Bobot’, was designed to be an exact replica of Bobo’s hand-made form.
Bobo’s new bakery can produce 1 million cookies, bites, or baked goods per day and the company already has plans to increase capacity.
“We’re not cutting costs and this new facility is expanding our handcrafting process. This took us two years. We’ve made a $100m corner bakery,” he said.said McIntyre.
‘Holding on to the tree has always been a controversial topic at Bobo’s
With the new production facility, Bobo’s will be able to increase the number of products with each customer and make its premium line a household name among not only Whole Foods consumers but also value-conscious and value-conscious shoppers.
As a result, Bobo’s has not taken a single price increase during a period of high inflation in order to attract more consumers and families.
“Pricing has been a major issue at Bobo for a year and a half. And our conclusion is that we have a very strong portfolio. If it’s a good price, we can be very competitive with the food bars that are sold and the cereal. bars, we will increase our penetration in the home, ” said McIntyre.
“We’re still focused on Whole Foods and the organic food industry, but if we’re going to chase a quarter of a billion dollars, which we are, it’s going to come shopper-consciously.”to
According to McIntyre, Bobo’s in-house penetration has increased over the past year with the multi-brand CPG giant.
“All our competitions are for the food industry and they will continue to take prices whenever they become available.to [increases] and we will share it with them,”said McIntyre.
“With all the acquisitions that have been made, there is a list of very few companies that are close to $100m of revenue that are independent (with Bobo being one of the few).”to
‘We’re the only bar in a store you can make at home’
Speaking about the competition in the bar and how Bobo can stand out in the sea of protein, keto, paleo, and other things that are happening, McIntyre said that the simplicity of the company (do not stray far from what its founder Beryl Strafford did before. until 2003) will continue to fight against time.
“We are the only bar in the store that you can make at home. If you try to make any of our competitors you will have trouble because there are many complications and more in their products that leave the real food, “he said.
“Bobo’s is committed to creating a multi-brand, 100-plus-year-old brand, and we believe you get there with simplicity and flavor. in 24 to 36 months.”to