Kodiak Cakes

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Kodiak Cakes
Product typePancake mix, breakfast foods
CountryUnited States
Introduced1982; 39 years ago (1982)
Websitekodiakcakes.com

Kodiak Cakes is a food brand based out of Park City, Utah. The brand traces its beginnings back to 1982, when Penny Clark sent her 8-year-old son, Joel Clark, into the neighborhood with a red wagon full of paper bags filled with the family's heirloom Buttermilk Flapjack Mix.[1] The brand is still family owned, but has expanded from just the original flapjack mix to brownie, muffin, and protein ball mixes, oatmeal, frozen prepacked waffles and pancakes, granola protein bars, graham crackers, and fruit syrups.[2]

History[edit]

The idea for Kodiak Cakes began in 1982, when Penny Clark made her family's heirloom pancake mix and divvied it up into paper bags for her son, Joel Clark, to distribute around their Utah neighborhood.[3] The mix proved popular as a 100% whole grain, protein-packed alternative to regular pancake mix, and in 1995, the Clark brothers incorporated their family's business.[4] However, although the mix was well-received, the company was met with limited financial and commercial success. In 2000, Kodiak received its first investment when Joel's neighbor gave him a check for $13,000, which Joel has credited as an initial driving force in keeping the company going.[5] Then, in 2009, Joel hired Cameron Smith as his COO, and in 2014, they appeared on an episode of the American television show Shark Tank. Although they declined to make a deal with the show's hosts, the appearance spiked the brand's sales at Target,[6] leading to the brand being cited as an example of a company that benefited from not reaching an agreement with the popular show. Today, Joel Clark still functions as the CEO of Kodiak Cakes, while Cameron Smith is still the company's COO.

In May 2021, L Catterton, a private equity firm, acquired a majority stake in Kodiak Cakes.

Growth[edit]

After appearing on Shark Tank in 2014, Kodiak Cakes' sales rose from $3.6 million in 2013 to $6.7 million in 2014, party due to an added boost from the launch of its Power Cakes. This additional revenue allowed the company to focus on product innovation and expanding its consumer base, leading to the development of a frozen line of pancakes and waffles, as well as graham bites, oatmeal, and granola bars. Currently the company employees around 90 people, up from 6 in 2014.[7]

Kodiak Mission[edit]

Kodiak Cakes' mission statement is "To inspire healthier eating and active living with nourishment for today's frontier".[8] To accomplish this mission, Kodiak Cakes aims to create real foods that are full of nutrients, fiber, and protein. The brand also uses 100% whole grains in all of its products, which is one of the brand's main selling points.[9] Pea protein is also used to create the "protein-packed" products the brand is known for. Kodiak Cakes is also known for its work culture, and has been named one of Utah's Best Companies to Work For.

Conservation Efforts[edit]

Kodiak Cakes uses a bear as their logo and on their packaging. The brand uses a bear because the bear is recognized as a keystone species, and signal a healthy ecosystem with food to forage and space to wander.[10] Because of this, Kodiak has committed to donating a portion of its profits every year to conservation efforts that help protect bear habitats. The brand works with organizations like Vital Ground, and played a role in the collective effort to create the Bonanza Flats Conservation Area in Park City, Utah.[11]

References[edit]

  1. ^ "Our Story". Kodiak Cakes. Retrieved 2021-10-17.
  2. ^ "Kodiak® | Nourishment For Today's Frontier™". Kodiak Cakes. Retrieved 2021-10-18.
  3. ^ "Kodiak Cakes: Joel Clark : How I Built This with Guy Raz". NPR.org. Retrieved 2021-10-17.
  4. ^ "Kodiak Cakes, our 2020 'Bakery of the Year,' is redefining bakery categories across the board". www.snackandbakery.com. Retrieved 2021-10-17.
  5. ^ Berger, Sarah (2018-08-08). "This family business was a 'Shark Tank' reject — now it's bringing in $100 million a year with the best-selling pancake mix at Target". CNBC. Retrieved 2021-10-17.
  6. ^ Bronner, Stephen J. "This Entrepreneur Almost Quit Multiple Times, But After Appearing on 'Shark Tank' He Now Has a $100 Million Business". Entrepreneur. Retrieved 2021-10-17.
  7. ^ "Kodiak Cakes, our 2020 'Bakery of the Year,' is redefining bakery categories across the board". www.snackandbakery.com. Retrieved 2021-10-17.
  8. ^ "Our Mission". Kodiak Cakes. Retrieved 2021-10-18.
  9. ^ foodnavigator-usa.com. "Kodiak Cakes, a $200m overnight success story? 'Far from it,' says co-founder and president". foodnavigator-usa.com. Retrieved 2021-10-18.
  10. ^ "Conservation". Kodiak Cakes. Retrieved 2021-10-18.
  11. ^ "Bonanza Flat Conservation Area | Park City, UT". www.parkcity.org. Retrieved 2021-10-18.


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