TRUBAR (SBBC) 15th Annual LD Micro Invitational 2025 summary

Background and leadership

• VRG Capital, with over 40 years of experience, invests in CPG healthcare and other sectors, led by family offices.

• Notable restructuring successes include Dominion Lending, DCM, and HEALWELL, with significant turnarounds and value creation.

• Simply Better Brands was brought to attention in early 2023, with leadership changes following operational and financial challenges.

• Major restructuring closed 14 of 17 divisions, focusing on the TRUBAR brand and stabilizing the business.

Business focus and growth strategy

• TRUBAR is positioned in the global plant-based snack sector, targeting clean, nutritious protein bars.

• Revenue has grown from $1M to an expected $45M in four years, with aggressive distribution and online expansion.

• Store presence increased from 9,500 to 15,000, aiming for 30,000 in the next year, with reduced reliance on Costco.

• Direct-to-consumer sales are up 1,500% year-over-year, targeting $15M+ in 2024.

• Marketing spend will rise from $2M in 2024 to $8M in 2025 to drive profitable growth.

Operations and innovation

• Asset-light model uses co-manufacturers and a broker sales network, with a third co-manufacturer onboarding in Q3 2025.

• Innovation is retailer-driven, with new products developed per requests from major partners like Walmart and Costco.

• Board includes former executives from Kellogg's, Mars, and BBDO, providing deep CPG and marketing expertise.