Zac Efron’s down-to-earth approach to health and sustainability is Kodiak Cakes.
The former “High School Musical” star has officially joined the whole grain, protein-packed food company that was scooped up by private equity group L Catterton in a rumored $800 million deal in 2021 as its Chief Brand Officer and new board member.
Kodiak Cakes started when current cofounder and CEO Joel Clark began selling homemade pancake mixes out of a little red wagon as an eight-year-old, and has quickly grown to be one of the most renowned bakery brands in the U.S. with annual sales hitting $200 million in 2020, according to PitchBook. With earlier backing from Sunrise Strategic Partners and Golub Capital, the company has branched out into several adjacent categories, including oatmeal and nutrition bar, over the years.
During an exclusive Zoom interview recently, Efron told me how he’s been a long-time Kodiak fan, actively incorporating its products into his regular diet and fitness routine even on outdoor adventures. “Kodiak Cakes is an incredible company that offers comfort food made with good ingredients,” he said. “The fact that they’ve made a lot of efforts in wellness, wildlife conservation, and sustainability connects with me. It feels like food with a purpose.”
Kodiak Cakes has previously led a fundraise campaign for several Vital Ground Foundation projects to conserve grizzly bear habitat and movement areas for other wildlife.
Business Plans Upon The Partnership
Over the past several years, the Hollywood actor has built a reputation for helping preserve the environment with the Netflix
NFLX
Cofounder and CEO Joel Clark (left) expects Kodiak Cakes’s growth in 2022 to outpace last year.
“One of the coolest things about our partnership is I’m not just lending my name to the brand; they’re actually giving me the opportunity to roll up my sleeves and collaborate on everything from new products to ideas like branded apparel and several give-back initials, which are all really fun,” Efron told me.
Efron has so far attended at least two Kodiak Cakes’ board meetings, and he describes the team as “a solid squad with the best vibe ever,” promising to continue advocating healthy and active living for consumers with busy schedules.
“I’m constantly on the go — that’s the truth. I’m lucky that a huge portion of my job is just taking care of myself, so I spend a lot of time prioritizing my adventures in the wild and also fitness,” Efron told me. “If I’m not in front of the camera, or if I’m not on set, I’m usually traveling and finding solace in nature. That’s where Kodiak fits well.”
Future Growth Outlook
Kodiak Cakes is in the process of launching a Cubs line for kids, including frozen waffles and oatmeal, in hopes to compete with a growing numbers of emerging better-for-you products entering the center aisle, according to Clark.
With the onboarding of Efron, the company’s plan is to further penetrate more categories while leading the core pancake mix market, where Kodiak Cakes is currently the number-two brand.
“We saw an opportunity to bring more better-for-you desserts made with real ingredients, fresh butter, whole grains, added protein that taste awesome,” Clark said. “For the foreseeable future, where we want to lead is pancake mix where we’re only about one and half market share points away from becoming the number one brand.”
Kodiak Cakes’ overall business has grown by 20% in revenue last year, and Clark expects a faster growth pace and significantly increased revenue by 2022.