KIND Snacks founder Daniel Lubetzky announces investment in Quevos On Shark Tank Protein Chips

KIND Snacks founder Daniel Lubetzky has announced on Shark Tank that he is investing in a Quevos egg protein snack company through his own Equilibra family office.

The billionaire businessman, who sold his nutrition bar company to the Mars & Wrigley confectionery market in a reported $ 5 billion deal last year, notes how Quevos has grown stellar in recent years finally like no other in the region.

During the period 2019-2020 alone, Quevos grew 400% in sales and expanded from 250 to 1100 sellers despite challenges caused by a pandemic in brick-and-mortar stores. -killer that has made it difficult for many emerging brands to gain visibility.

The secret sauce to Quevos ’success is its mainstream appeal in the broader market rather than adopting a targeted distribution strategy with specific results, Lubetzky believes.

“There’s no reason why these cracks shouldn’t be everywhere,” he told me. “While we have seen evidence that grocers are moving towards reducing the number of SKUs to focus on top selling staples, we are seeing very innovative and different products like Quevos trying to slow the movement, and managing to spread.

Lubetzky added that Quevos’ omni-channel strategy has also allowed it to enter the market better as the product is currently available online through Amazon

AMZN
, as well as through national retailers, including Wegmans and Vitamin Shoppe

VSI
.

“It is incredible that more and more consumers will move online,” he explained, “brick-and-mortar retailers remain an important part of consumer life and a key anchor for any product. with mainstream application. ”

All-natural ingredients and heavy flavors

Childhood friends Zack Scheier and Nick Hamburger co-created Quevos in 2017 when their predecessor, who is a type 1 diabetic, was looking for a low-carb snack, and was inspired by leftovers of egg white omelette.

The duo later turned this idea into a crunchy and heavy-flavored chip that comes in four different flavors – Sweet Barbeque, Cheddar, Quevos Rancheros, and Sour Cream & Onion – after experimenting. make several formulas for two years, although they remain a mystery about their production process.

“I can’t say that the product is made through a dehydration process,” Schreier previously told me as Quevos prepared for its Whole Foods

WFM
launch in 2019.

In addition to egg whites, it is reported that the products are made from all-natural ingredients, including pea protein, avocado oil and chia seeds, and each bag provides about 10 grams of protein and six grams of fiber. Quevos ’keto line contains only two grams of net carbs per bag.

The business began immediately after Quevos took the crown at a previous venture contest with the University of Chicago, entered the Kinft Heinz Springboard facility, and subsequently raised $ 71,786 – more than seven times the the original target – through a Kickstarter campaign.

Part of that funding went into Quevos ’previous rebranding to a more colorful package from its original white and simple design to better stand out shelves.

Building a basic business foundation

Investing in Quevos, Lubetzky said he will share his knowledge and experience of building KIND, and insights from Equilibra’s other portfolio companies, including Ellenos and Gimmie Snacks , to help grow the brand.

Lubetzky notes how his investment firm can support entrepreneurs without the constraints of aggressive exit timelines.

“We know that success looks different for every entrepreneur and we tailor our approach accordingly,” he wrote to me via email.

“At Equilibra, we are building a family of entrepreneurs who share many of the same values ​​as entrepreneurial grit and creativity balanced by kindness, assertiveness, integrity, and long-term leadership. ”

However, Lubetzky warns that taking advantage of short-term consumer trends could hinder Quevos ’business growth, and that they should focus on strengthening their base – whites eggs.

“Quevos has some product SKUs that deserve keto,” he said. “I have advised Nick and Zach to be careful about building a brand at length, which could leave a shaky foundation.

“I think they see potential, as I do, for Quevos to grow significantly, but right now the focus needs to be on building what they have and not spreading too thin. ”