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Finding the right co-packer can make or break a CPG brand. Vince Tseng of PartnerSlate offers insights into the complex world of co-manufacturing from both the CPG and co-packers perspectives. He discusses what co-packers and CPG brands are looking for in a partnership, shares tips on how to appeal to the right partner, talks about the impact of technology on innovations in the F&B industry, and offers a promotion to CPG brands looking for support in their search for a co-packer.
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“I think it’s important for co-packers to find the right mix of customers that are really growth minded and customers for the long term. The advice I give to CPG companies is the other side of the same coin, which is you want to find the right co-packer for your needs. Don’t go with the biggest co-packer that’s willing to take your business, you want to find the co-packer that’s the right size, that has their incentives aligned to really make your product and your relationship a success. And that’s not always going to be the biggest or most most well known co-packer.”
Vince Tseng
| 2:35 How did Vince Tseng’s background lead to his being a co-founder of PartnerSlate? |
| 3:57 Why is it so difficult for CPG companies to find a manufacturer or co-packer to work with? |
| 5:50 What does PartnerSlate do? |
| 7:53 Is a co-packer the same as a contract manufacturer? |
| 9:01 Which category is the hottest right now in the food and beverage industry? |
| 15:05 How has the growth of technology, social media, and contract manufacturing impacted the launch of new products over the past 20 years? |
| 20:45 Is there a shortage of co-packers? |
| 25:01 What is an overview of the co-manufacturing industry? Why is it so hard for a CPG to find a co-packer who will work with them? |
| 27:32 What is it like on the co-packer’s side? Do they have trouble finding CPGs to work with? |
| 34:25 What percentage of products in the F&B industry are produced by co-packers? How does this compare to the use of co-manufacturing in other sectors of the manufacturing industry? |
| 38:32 What are the biggest challenges in the industry for co-packers and CPGs? |
| 46:15 How is automation impacting the co-packing industry? How do technology and new equipment impact the innovation of new products? |
| 51:49 What are the traditional ways for CPG start-ups to raise capital? What does the angel investor market look like for the food and beverage sector? |
| 53:12 How does the venture capital market work in the food and beverage industry? How does this impact the potential for success of CPG companies? |
| 58:20 What is a co-packer looking for in a CPG brand partner? What information do they need from the CPG in order to decide if they can make a good partnership? |
| 1:01:00 How can a CPG brand prepare itself before it starts looking at co-manufacturers to form a partnership? |
| 1:05:48 Final advice for co-packers and CPG companies. |
| 1:07:52 Special discount from PartnerSlate available for any brands looking for support in finding a co-manufacturer. |
Vince Tseng is the Co-Founder & CEO of PartnerSlate, a platform that serves as a marketplace for CPG brands and contract manufacturers where they find partners to produce the world’s food. Under his leadership, PartnerSlate has quadrupled its customer base over the past six months.
Prior to forming PartnerSlate, Vince was part of the founding team and CSO at SquareTrade, an InsureTech company acquired by Allstate for $1.4 billion in 2017. At SquareTrade, he built a data science-driven matching platform for repair vendors, helping sign on more than 100 million active policyholders across four continents and generating over $1 billion in revenues and $150 million in annual profits. He also co-founded Lil’ Pop Shop, a dessert shop named “best popsicles in America” by Food & Wine.
In addition to his work at PartnerSlate, Vince is an active investor in Food and AgTech, both as an angel and a Partner at Pacific Fin Capital.
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