In the crowded category of better-for-you snacking, the growth trajectory of Chomps has been somewhat unprecedented.
This past year, according to the company, Chomps saw a 206% increase in its sales growth, and is expected to beat that number this year.
The meat stick maker offers venison, beef, turkey and chicken-based snacks in flavors such as Italian, Taco, Pepperoni, Smokey Bbq and more. Chomps have ten to 12 grams of protein and zero grams of sugar.
Co-founder Pete Maldonado started the company in 2012 as a side hustle when he was working as a personal trainer. Maldonado and co-founder Rashid Ali were seeking an on-the-go protein option that was free of sugar and preservatives.
The idea percolated during a poker game that the two now co-CEOs were at a mutual friends’ apartment in Chicago and they started talking about guilty pleasures.
Growing up on Long Island, Maldonado thought of the popular jerky sticks he used to get as a snack at gas stations and 7-Elevens. But that version was chock full of added sugar and high levels of saturated fat.
Chomps has shifted that narrative. The company’s main ingredients include grass-fed and finished beef and spices
With these clean ingredients, the company has become the fastest growing snack food brand in the U.S, according to data collected by Numerator.
Last month, Chomps announced a manufacturing plant in the city of Mexico, Missouri, slated to open in 2025. The new development is part of a long-standing partnership with Western Smokehouse Partners, who actually helped the better-for-you snacking brand develop its recipe during its early days.
Newly minted chief financial officer Tim Bosslet said that Chomps is focused on driving trials during its next phase of growth. The company wants more people to not only try its product, but try the category as well.
What Chomps gets right
As consumers seek high-protein and low-sugar food options, Bosslet said other companies have missed the mark in conveying the authenticity of their brands.
“We have always been sugar-free and Whole30 [diet] and keto friendly,” he said in an interview with Food Dive. “This isn’t a trend for us where we release a certain product line that’s sugar-free, this is just who we are.”
Bosslet, who took on the newly added C-suite position last week after being promoted from senior director of finance, said this gives the brand a leg-up with consumers in terms of trust.
With better-for-you snack options becoming more popular, and consumers especially seeking high protein options, many large food companies have made efforts to add these products to their portfolios.
PepsiCo, for example, recently agreed to acquire better-for-you tortilla chip maker Siete Foods for $1.2 billion. The purchase will allow PepsiCo to offer consumers healthier chips, dips and sauces with cleaner ingredients. Some fans of Siete are worried that the brand will lose its integrity.
Bosslet says Chomps stands by its branding of being a quality source of protein while also being low-sugar. “Consumers are really drawn to the simplicity of who we are, and that has made us known and trusted,” said Bosslet.
While the CFO seat is a newly added position for the company, Bosslet said the addition is more about providing the company with the necessary infrastructure than anything else.
“As we continue to scale, we will require more formalization of things like financing, planning and reporting,” he said. “This is just a byproduct of our continued growth.”
The next phase
As it looks toward its next phase of growth, Bosslet said the focus will be on its core — core consumers, core products and core channels.
Although there is still a lot of whitespace for the company, namely in international and convenience store expansion, his focus will be on continuing to bring new consumers to the brand and the category of better-for-you snacking overall.
Right now, the company’s core demographic skews female, said Bosslet, but that also results in a lot of families eating Chomps as well, as many moms buy the product to throw in their kids’ lunchboxes.
“The other piece putting us in a position to gain new consumers is that we’re not a single-use product.” he said, “We are a meal replacement, meal supplement and snack.”