The Ledger
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Stafford: Bobo's and Justin's Nut Butter formed joint LLC to share kitchen
“And so he and I jointly took this new space, bigger, and it was just the two of us, And we formed a little LLC. It was crazy. And we shared employees, and we shared the space.”
Justin's generated $20 million in annual revenue by 2012
“You're doing twenty million a year in 2012”
Justin Gold could not patent protect his nut butter squeeze packs
“I couldn't patent protect it. I didn't invent peanut butter. I didn't invent the squeeze pack. I couldn't protect it.”
VMG Partners targeted a standard five-year timeline for liquidity and capital returns
“We were only three years in with VMG and they generally five years is when they say, okay, let's start to think about what's next guys. We need our money back.”
Forward Consumer Partners acquired a 51 percent controlling stake in Justin's
“They bought 51%. Controlling interest.”