Venture Fund Member Profile
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2x Consumer Products Growth Partners, partners with founders and management in emerging consumer products businesses capable of growing exponentially via an infusion of capital and management expertise.
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Andrew S. Whitman
Managing Partner
2x Consumer Products Growth Partners |
Andy Whitman is a successful consumer products executive and investor who melds the experience of a Fortune 100 executive with the passion and resourcefulness of an entrepreneur. After a successful career with General Foods and Kraft Foods and recognizing that nurturing smaller businesses to achieve rapid growth was his passion, he founded 2x Management in 2001 to invest in and operate small- and mid-sized consumer products companies including Wellness/Old Mother Hubbard all-natural pet foods and Eagle snacks.
Whitman contributed to tripling revenue at Wellness/Old Mother Hubbard and growing EBITDA significantly ahead of revenue growth rate despite aggressive growth investments. Importantly, he partnered with management to leverage his expertise, contacts and connections to build Wellness into a powerhouse brand in the natural products industry – now ranking in the top 2% in sales among all natural products industry brands and among the fastest growing of any leading brand.
Whitman began his career managing icons like Kool-Aid and Tang. After years of delivering results on big brands, he jumped at the opportunity to run small, autonomous businesses within Kraft in a shirtsleeves environment. With unusually broad operating experience that included dedicated plants and/or sales forces but only a fraction of usual resources per dollar of revenue, he quickly proved his strengths as a collaborative, hands-on business builder. Taking charge of brands as small as $10 million that Kraft had been unable to grow or run profitably, Whitman’s entrepreneurial leadership produced outstanding results. For example, he grew a ready-to-drink beverage brand from a money-loser that the corporation wanted to divest into the foundation of today’s highly profitable $1 billion business.
Whitman’s track record as an operator is equally enviable whether managing businesses small or large. Brands under his direction have grown exponentially on volume, revenue, and/or earnings fronts: Country Time and Tang powdered soft drinks, Taco Bell Home Originals Mexican foods, Mr. Freeze freezer bars, Philadelphia snack bars and DiGiorno pastas and sauces. Whitman’s ability to grow businesses comes from his proven general management experience built upon a diverse breadth of prior functional assignments, including marketing, sales, operations planning and corporate development.
Whitman serves as a member of the board of directors of gDiapers and sits on the advisory board of Reserve Brands LLC (Eagle snacks) and The Nibble. He currently or previously assisted pro bono by serving as a board member for the Jewish United Federation Foods & Hospitality Trade Sector, Marketing Executives Network Group (MENG), Venture Board of the Women’s Self-Employment Project and White Plains Child Day Care Association, a Head Start agency.
Whitman received a B.B.A. from the University of Wisconsin and an M.B.A. from Northwestern University’s Kellogg School of Management. He is an outdoor adventure traveler, an aggressive skier, an avid college basketball fan, a Culinary Institute of America-trained cooking enthusiast, and a devoted Parrothead – as a result of traveling early in his career with singer Jimmy Buffett while leading the national introduction meetings for Corona Light, now the #1 imported light beer.
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