Ahead of the Future Food-Tech Summit in San Francisco, we spoke to Peter Rahal, CEO at RXBAR. We asked his opinion on RXBAR’s pivital moments, his advice for entrepreneurs and future predictions for the food-tech sector.
You’re speaking at the upcoming Future Food-Tech Summit in San Francisco. Much of our audience will recognise RXBAR for its $600 million acquisition deal with Kellogg’s. Could you please tell us a little bit about yourself and the philosophy of RXBAR?
I’m the CEO of RXBAR, which I co-founded in 2013 with my childhood friend Jared Smith. My job as Chief Executive is to create alignment on the company’s progressive vision, culture and strategy to build a company that revolutionizes snacking. Our goal is simple – to revolutionize “better.” We’re growing, but we’re nimble and make quick, smart decisions. We’re working to empower entrepreneurial people to design, manufacture and distribute unrivalled food brands.
What was the pivotal moment for you?
When you are building a company there are many pivotal moments, for us there were two:
• Successfully transitioning from kitchen to commercial production
• Rebranding to successfully communicate our value as a brand to consumers
What top tip would you give to entrepreneurs looking to scale and collaborate with food brands?
Do what’s right, not what feels good. Stick to your values. Always over service the customer.
How is disruptive innovation shaping the future of the food industry?
The entire food landscape is changing. Technology is changing everything. Convenience is king. Brands must not only meet, but predict consumers’ need. We need to be where they are and be smart about removing barriers to purchase.
What’s next for RXBAR? Any future predictions for the sector that you would like to share?
We’ve got a lot under the hood. There’s more to come from RX (we currently have RXBAR, RXBAR Kids and our new RX Nut Butters). We’ll continue to build a house of brands and focus on better-for-you snacks. The clean-label trend isn’t going away, so we’ll see companies, big and small, innovating with this in mind, with convenience/on-the-go as added value.
Peter will be presenting Transformative Acquisitions: Disrupting the CPG Landscape with Entrepreneurial Spirit at Future Food-Tech, March 21.