The $800M exit that started with a single muffin

Katlin Smith, founder of Simple Mills, discusses building a better-for-you brand. Smith recounts her journey from experimenting with recipes in her apartment to selling Simple Mills for nearly $800 million. Her motivation stemmed from personal dietary changes, leading her to create nutrient-dense baking mixes using unconventional ingredients like almond flour and coconut sugar. Overcoming initial challenges, including funding and manufacturing, Smith emphasized the importance of product positioning and ingredient quality. Chicago Booth's resources and location proved invaluable for fundraising, talent acquisition, and navigating the consumer brand landscape. Ultimately, the decision to sell to Flowers Foods was driven by the opportunity to expand distribution, accelerate innovation, and reach a broader consumer base.