HA! Snacks

Americans can’t seem to get enough of salty snacks. The U.S. market for these foods stands at $26 billion.

And the world’s biggest food manufacturers are hungry for these snacks, too. Over the past few years, M&A activity in the snacks market has skyrocketed, highlighted by several blockbuster deals. For example:

• In 2017, SkinnyPop, makers of healthy popcorn, was acquired by Hershey in a $1.6 billion deal.

• Quest Nutrition, which makes a line of healthy snacks, was acquired by Simply Good Foods for $1 billion.

• Pirate Brands, makers of healthy cheese puff snacks, was acquired by Hershey for $420 million.

• And BOOMCHICKAPOP, the company behind a healthy popcorn option, was acquired by Conagra for $250 million.

HA! Snacks could be the next acquisition. This company makes a line of healthy savory snacks — an alternative to greasy, caloric potato chips and corn chips. In fact, the “HA!” in HA! Snacks stands for “healthier alternative.”

This company is growing fast. In 2020, sales grew by nearly 5,000%. And its products are expected to be available in 10,000 stores across the U.S. — including national chains like Whole Foods, Costco, and Publix — by 2026.

Notably, HA! Snacks recently completed SKU-Austin, a premier accelerator for emerging consumer packaged goods startups. Alumni include Epic Bar (acquired by General Mills for $100 million); Siete Foods (a maker of grain-free tortillas that’s raised nearly $100 million from investors); and DUDE Wipes (makers of men’s bathroom products whose investors include Mark Cuban).

HA! Snacks addresses a problem that’s easy to summarize, but hard to solve: traditional snacks are tasty, but often aren’t so nutritious. Healthier options, meanwhile, sacrifice flavor in exchange for nutrition.

HA! Snacks has created a crunchy snack that is nutritious and tasty. According to the company, its snacks “crunch like a kettle cooked chip and finish like a savory puff.”

Its snacks are made with just five base ingredients. They’re plant-based, gluten-free, and pack 11 grams of protein into each serving — five times the protein found in most traditional snacks.

The company’s first product is a line of chips and comes in five flavors: cheddar cheese, sour cream & onion, spicy chili lime, churro loco, and bar-b-q.

HA! Snacks sells its snacks through its Shopify store and through Amazon. In 2020, online sales grew by nearly 5,000%. Gross product margins are 70%. And the company spends around $22 to $28 to acquire each customer, with an average order value of $34. 35% of customers make repeat purchases and those customers spend 30% more than they did on their initial purchase.

HA! Snacks generated $230,000 in sales in 2020. The company is projecting sales to reach $2 million by 2022.

Team Background

Scott Jensen - Advisor

In addition to his advisory role with HA! Snacks, Scott has spent the past 11 years as President and CEO of Rhythm Superfoods, makers of healthy snack alternatives. The company sells kale chips and “super food” chips in supermarkets across the U.S.

Prior to that, he spent nearly 20 years as CEO and co-founder of Stubb’s Legendary Bar-B-Q, a company making homemade barbecue sauce.

Earlier in his career, Scott was a marketing manager with Georgia-Pacific, a paper manufacturer. Before that, he worked in media planning with Publicis, a client services company serving the consumer packaged goods industry.

He earned a Bachelor’s degree in Business Communication from Southern Methodist University and an MBA from NYU.

Justin Wiesen - Founder & CEO

Justin has experience in the consumer packaged goods industry.

Prior to starting HA! Snacks, he was Senior Vice President of Marketing with CPG Focused Brands, a company selling consumer packaged goods in more than 70,000 retail locations. Before that, he was a national account manager with TSC Global, a consulting firm for engineering and technical businesses.

He earned a Bachelor’s degree in Communication Studies from the University of North Carolina at Charlotte.

Patrick Schwarzenegger - Advisor

Patrick is an entrepreneur and angel investor who has achieved success investing in food & beverage companies.

He was an early investor in Blaze Pizza, a restaurant chain once valued at $250 million. He also invested in Kitu Life, a coffee company, and Poppi, a beverage company selling prebiotic sodas.

He holds a Bachelor’s degree in Business Administration from the University of Southern California.

Scott Marcus - Advisor

Scott has 15 years of experience building brands.

Most recently, he spent five years as Chief Marketing Officer with Vital Farms, a leading U.S. producer of pasture-raised eggs and butter. He helped take the company public in 2020 and today it has a market cap of nearly $800 million.

Prior to that, he was a mentor with SKU, a notable accelerator for early-stage companies in the consumer packaged goods industry. Before that, he was a brand marketing director with Mondelez International, where he worked with brands including Ritz and Kraft Foods.

Scott earned a Bachelor’s degree in Marketing from George Washington University and an MBA from Duke.

Co-Investors