The Startup CPG Podcast

In this episode of the Startup CPG Podcast, host Caitlin Bricker sits down with Emmanuel Waters and Courtney Tucker, co-founders of Old Hillside Bourbon Company—a premium spirit brand that celebrates history, heritage, and homage in every pour. What started as a pandemic-era phone call between cousins and childhood friends became one of the most compelling brand stories in the spirits industry, rooted in Black history, community pride, and a commitment to craft.

Emmanuel and Courtney share how two cousins who barely knew each other connected during the height of COVID-19 to build a bourbon brand named after Hillside High School—the oldest African American high school in the United States, located in Durham, North Carolina, one of five Black Wall Streets in America. They dig into the barriers Black founders face in a $40 billion spirits industry where African Americans represent nearly 12% of consumers but less than 1% of ownership, and explain why telling the stories that history tries to erase is at the heart of everything they do.

From the black jockeys who dominated the Kentucky Derby in the 1800s, to the trailblazing female jockeys of the early 1900s, to the Harlem Hellfighters—the first African American unit to fight in World War I—Old Hillside doesn't just make bourbon. They let the stories create the bourbon. And they've broken records doing it, becoming the fastest-selling bourbon in the state of North Carolina at their very first ABC Store demo.

Fair warning: you might get emotional. Caitlin did.

Listen in as they discuss:
How a pandemic-era DM on Instagram launched a bourbon company between cousins who barely knew each other
The history behind the name: Hillside High School and Durham's Black Wall Street legacy
Representing less than 1% of ownership in a $40 billion market—and building anyway
The Black jockeys who dominated horse racing in the 1800s, featured on their Last Ride Rye bottle
The Trifecta bottle honoring three pioneering female jockeys—and the moment two families who knew each other in the 1930s met for the very first time at an Old Hillside event
The Harlem Hellfighters release: aged 191 days, finished in French Pinot Noir barrels, proofed at 112
Breaking records at their first ABC Store demo and becoming the fastest-selling bourbon in North Carolina
Bootstrapping for six years in one of the most capital-intensive industries in CPG
Why they don't just want to be the best Black-owned bourbon—they want to be the best bourbon, period

Episode Links:

Old Hillside Bourbon Company

Website: https://www.oldhillsidebourboncompany.com

Instagram: https://www.instagram.com/oldhillsidebourbonco/

Emmanuel Waters — Co-Founder, Old Hillside Bourbon Company

LinkedIn: https://www.linkedin.com/in/emmanuel-waters-4740989a

Courtney Tucker — Co-Founder, Old Hillside Bourbon Company

LinkedIn: https://www.linkedin.com/in/courtney-tucker-79918527

Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.
Show Links:

Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)
Join the Startup CPG Slack community (35K+ members and growing!)
Follow @startupcpg
Visit host Caitlin's Linkedin 
Questions or comments about the episode? Email Daniel at [email protected]
Episode music by Super Fantastics

In this episode of the Startup CPG Podcast, host Daniel Scharff reunites with attorneys Adam Marsh and Gabrielle McGonagle from Giannuzzi Lewendon—a top-tier CPG law firm working with over 3,000 brands—to tackle the most frequently asked legal questions from the 33,000+ member Startup CPG Slack community. From friends and family rounds to co-manufacturer agreements, distribution deals to exit readiness, Adam and Gabby bring a combined 25+ years of CPG legal experience to answer the real questions early-stage brands are asking.

Adam and Gabby break down the hidden complexity of raising money from people you know: why side deals with Uncle Vinnie can derail your Series A, why a term sheet matters even in a casual round, and how investor relations—yes, even with family—require consistent communication to preserve trust. The conversation digs deep into institutional fundraising prep, covering why building your data room early is one of the highest-leverage things a founder can do, and how to negotiate a term sheet that protects your board control and limits investor blocking rights before you ever get to the 50-page long-form documents.

Throughout the episode, Adam and Gabby share hard-earned lessons from the trenches: a six-figure IP ransom that nearly derailed an acquisition the week before close, a co-manufacturer whose product separated on shelf with no contractual out for the brand, and why sweat equity given to advisors and consultants can quietly balloon your cap table in ways that displease future investors. They explain how to vet distributor agreements (especially with DSDs), why specificity in your manufacturing specs is your best legal protection, and why thinking about your eventual exit should shape how you structure commercial contracts from day one.

Whether you're setting up your first entity, giving equity to an advisor, signing your first co-man agreement, or preparing for a transaction, this episode delivers honest, tactical guidance from attorneys who've made it their life's work to help CPG brands succeed.

Listen in as they discuss:
Friends and family rounds: why you need a term sheet, how side letters can wreck your Series A, and the importance of investor communication
Institutional fundraising: building your data room early, negotiating term sheets before long-form docs, and what founders should fight for (small board, limited blocking rights)
Advisor equity: stock options vs. restricted stock, tying vesting to milestones, and why sweat equity isn't as "free" as it looks
Entity formation: why LegalZoom is risky and when a boutique CPG law firm is worth the investment
Getting sued: the top threats brands face—unpapared equity promises, IP ownership disputes, and label compliance failures
Distribution agreements: termination fees, exclusivity carve-outs, deliverables, and how to negotiate with DSDs vs. broadliners
Co-manufacturer agreements: owning your IP and formula enhancements, carving out exclusivity when demand spikes, and getting specific with your specs
Exit readiness: how messy commercial contracts, hidden related-party relationships, and IP ambiguity can derail a deal at the finish line

Episode Links:

Website: https://gllaw.us/

Linkedin: https://www.linkedin.com/company/giannuzzi-lewendon-llp/

Adam Marsh – Giannuzzi Lewendon

https://www.linkedin.com/in/adam-marsh-847a8571/

Gabrielle McGonagle – Giannuzzi Lewendon

https://www.linkedin.com/in/gabrielle-mcgonagle-803b2b21/

Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.
Show Links:

Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)
Join the Startup CPG Slack community (35K+ members and growing!)
Follow @startupcpg
Visit host Daniel's Linkedin 
Questions or comments about the episode? Email Daniel at [email protected]
Episode music by Super Fantastics

In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Jesse Konig, co-founder and CEO of Jesse & Ben's, to explore what it really takes to disrupt a legacy category, raise capital in CPG, and build a fast-growing brand from the ground up. The conversation dives deep into the reality of fundraising as a first-time CPG founder, the mechanics of running a competitive investment process, and why great velocity data and fanatical customers are worth more than any polished pitch deck.

Jesse shares his unconventional path from running a food truck in Washington D.C. (serving gourmet hot dogs and hand-cut fries) to opening a burger restaurant—on a 10-year lease—right as COVID hit, to making the bold pivot into frozen CPG with Jesse & Ben's. Built on a simple but powerful idea—bringing frozen french fries back to their original glory with better-for-you oils (beef tallow and avocado oil), clean sourcing, and zero fillers—Jesse & Ben's has quickly become a true food industry darling, landing nationwide distribution at Whole Foods and Sprouts in their first full calendar year, with Target, Kroger, and Costco on the horizon.

Throughout the episode, Jesse pulls back the curtain on his fundraising journey from a friends-and-family SAFE round (20+ investors, hundreds of thousands to ~$1M) to a more institutional process driven by real velocity data, social proof, and competitive FOMO. He reveals how his valuation cap changed three times in one week once investors realized others were circling, why fundraising is a full-time job and a momentum game, and how he and co-founder Ben divided and conquered—Jesse running the investor process while Ben stood up a 6,000 sq ft production facility from scratch in 2025.

Jesse also shares what he looked for in investment partners (back-channel references, not just curated intros), how to size a fundraising round (raise more than you think you need), and why the only way to lose in CPG is to run out of money.

Whether you're raising your first friends-and-family round, preparing for an institutional process, or trying to figure out how much capital you actually need, this conversation is packed with hard-won, practical wisdom from a founder who's lived every stage of it.

Listen in as they discuss:

Jesse's background: D.C. food truck → burger restaurant → COVID pivot → frozen CPG
The origin of Jesse & Ben's: clean-sourced frozen french fries made with beef tallow and avocado oil
"Turning junk food into joy food": the brand mission and why focus wins
Vertically integrating production: opening a 6,000 sq ft frozen manufacturing facility in 2025
The first fundraise: friends, angels, and small VCs via SAFE notes on a rolling basis
Why fundraising is a full-time job and a momentum game—not a nights-and-weekends project
Running a competitive process: how FOMO moved their valuation cap three times in one week
What investors actually leaned into: velocity data, fanatical customers, social proof
How to select investors: back-channel references, horror stories, and who you want to call in a crisis
Sizing your round: raise more than you think you need and always build in a runway buffer
The only way you lose in CPG: running out of money
Advice for founders: think with the end in mind, divide and conquer, run a process

Episode Links:

Jesse Konig — Co-Founder & CEO, Jesse & Ben's
Personal LinkedIn: https://www.linkedin.com/in/jessekonig/
Website: https://www.jesseandbens.com/ 

LinkedIn: https://www.linkedin.com/company/jesse-and-bens/

Instagram: https://www.instagram.com/jesseandbens 
Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com
Show Links:
Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)
Join the Startup CPG Slack community (35K+ members and growing!)
Follow @startupcpg
Visit host Hannah's Linkedin 
Questions or comments about the episode? Email Daniel at [email protected]
Episode music by Super Fantastics

In this episode of the Startup CPG Podcast, host Caitlin Bricker sits down with Lindsay Hancock, founder of My Better Batch—a clean label cookie mix made with non-GMO ingredients, designed to taste just like homemade cookies. Caitlin and Lindsay dig into the winding road that led Lindsay from helping build a company acquired by Kind Snacks, to navigating divorce as a single mom at 40, to shipping her very first order in April 2024 and baking thousands of cookies in an Airbnb to prepare for her first-ever trade show.

Lindsay shares how nearly two decades in food—starting on the retail side, then moving to manufacturing—gave her both the expertise and the courage to bet on herself. After the acquisition of her previous company by Kind Snacks and the unexpected upheaval of a divorce, she found herself at a crossroads: keep climbing the corporate ladder or build something of her own. She chose the latter. My Better Batch was born from a simple but powerful insight: there's a massive gap between the cookie mix you grab off the grocery store shelf and the homemade cookie you actually want to eat. Lindsay set out to bridge that gap—delivering a shortcut that moms can feel genuinely good about.

In less than two years in market, the results have been remarkable. My Better Batch landed in the Sprouts Forager set, Thrive Market, Lowe's Foods, the Fresh Market, Metropolitan Market, and Target—where Lindsay was accepted into the Target Accelerator program after meeting the team at a trade show. She also won the Good Housekeeping Best Snack Award and earned feature coverage in Parade magazine and All Recipes. And she did most of it as a solopreneur with a lean team of fractional consultants.

Lindsay reflects on what it takes to build momentum quickly as a small brand, why getting the product into people's mouths is everything, and how community—through networks like Startup CPG—provides the validation and feedback that a solo founder can't always find internally.

Listen in as they discuss:

Lindsay's career path: retail → manufacturing → building a company sold to Kind Snacks → solopreneur at 40
How divorce became an unexpected catalyst for building My Better Batch
What makes My Better Batch different: clean label, non-GMO, homemade taste without the effort
Shipping the first order in April 2024 and growing from DTC to national retail in under two years
The Sprouts Forager set, Thrive Market, Target, Lowe's Foods, the Fresh Market, and Metropolitan Market
Getting accepted into the Target Accelerator program
Baking thousands of cookies in an Airbnb to prep for her first trade show
Why quality of connections matters more than quantity
The Good Housekeeping Best Snack Award and major press in Parade and All Recipes
Dream retailers on the wishlist: Wegmans and H-E-B
Operating as a solopreneur: fractional teams, LinkedIn's "Real CPG Journey" series, and finding validation in community

Episode Links:

My Better Batch

Website: https://mybetterbatch.com/

Instagram: https://www.instagram.com/mybetterbatch

LinkedIn: https://www.linkedin.com/company/mybetterbatch/

Lindsay Hancock — Founder, My Better Batch

LinkedIn: https://www.linkedin.com/in/lindsayhancock/

Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.

Show Links:

Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)
Join the Startup CPG Slack community (35K+ members and growing!)
Follow @startupcpg
Visit host Caitlin's Linkedin 
Questions or comments about the episode? Email Daniel at [email protected]
Episode music by Super Fantastics

In this episode of the Startup CPG Podcast, host Daniel Scharff recaps the biggest investor event of the year—Founders & Funders—with two standout guests: Alex Malamatinas, founder of Melitas Ventures, and Alex Michealsen, founder and CEO of Leisure Hydration. Together, they pull back the curtain on what it's really like to be in the room: from the 10-minute speed dating meetings to the panel content, the VC dinner, and the hard-won fundraising lessons early-stage founders need to hear.
Alex Malamatinas shares what makes a founder truly stand out in a short meeting—charisma, clear vision, and product differentiation—and why meeting in person unlocks things a deck simply can't. Alex Michealsen breaks down his methodical approach to pitching: leading with questions for the investor, then firing off the numbers that matter most (velocity, contribution margin, channel performance) before the bell rings. He also introduces the "CPG triangle"—margin, velocity, and cash flow management—as the framework every operator should run every decision through.
The conversation covers the nuances of margin (why contribution margin is the only one that truly matters when running a business), how to build investor relationships over years rather than days, and why the prep work before an event like Founders & Funders is just as important as the meetings themselves. Both guests also offer candid feedback on how to make the event even better next year.
Whether you're an early-stage brand trying to break into the investor ecosystem, a founder preparing your first pitch, or just trying to understand what VCs are actually looking for, this episode delivers honest, tactical insight from two people who've been on both sides of the table.
Listen in as they discuss:
The Founders & Funders format: curated one-on-one meetings, 70 VCs, 160 brands, and 600+ meetings in a day
What makes a founder stand out in a 10-minute meeting: vision, charisma, and knowing your numbers cold
Alex Michealsen's pitch framework: interview the investor first, then lead with velocity and contribution margin
The CPG triangle: why margin, velocity, and cash flow management are the only three things that matter as an operator
Margin explained clearly: product margin vs. gross margin vs. contribution margin—and why contribution is king
Why beverage brands' Amazon contribution margin is often lower than retail despite higher gross margin
Building investor relationships over years, not days—and why most of Leisure's investors took two years to close
PR and content from the event: hot deals of 2025, trends vs. fads, real talk on margins, deal terms 101, and a keynote with Paul Vogue
Ideas for leveling up Founders & Funders: wildcard meetings for early-stage brands and mixed founder-investor social events
The Startup CPG Roadshow: a mobile version of Founders & Funders coming to major cities in 2025

Episode Links: 

Founders and Funders: fandf.startupcpg.com
Alex Malamatinas – Founder & Managing Partner, Melitas Ventures
LinkedIn: https://www.linkedin.com/in/alex-malamatinas-17a25124/
https://www.linkedin.com/company/melitasventures/
Alex Michealsen – Co- Founder & CEO, Leisure Hydration 
LinkedIn: https://www.linkedin.com/in/alex-michaelsen-35b395162/
https://www.linkedin.com/company/leisure-hydration/

Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.

Show Links:

Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)
Join the Startup CPG Slack community (35K+ members and growing!)
Follow @startupcpg
Visit host Daniel's Linkedin 
Questions or comments about the episode? Email Daniel at [email protected]
Episode music by Super Fantastics