Rauch brings best in class retail and corporate growth experience to assist in mix1’s accelerated growth
Boulder, Colo. (Feb. 2, 2010) – mix1® Beverage Company, an emerging leader in the functional beverage and performance nutrition category, today announced the appointment of Doug Rauch to its board of directors.
Rauch brings more than 30 years of experience in the grocery business, having helped grow Trader Joe’s® Company from a small nine-store chain in Southern California to a nationally acclaimed retail success story with more than 330 stores in 27 states. In addition to overseeing this growth, Rauch developed the Trader Joe’s® buying philosophy and product development system, created its unique private label food program and championed the company’s successful leadership program – Trader Joe’s University. Rauch serves on the boards of a number of non-profit organizations and is a Fellow at Harvard University.
“We are honored that Doug has agreed to join our Board of Directors,” said Bob Pinkerton, mix1’s CEO. “Doug not only brings a wealth of knowledge in and around the grocery and natural foods business, but he also understands how to grow a young company successfully into a highly respected national brand. He helped redefine the grocery business with Trader Joe’s, much as we’re trying to redefine and mainstream the sports nutrition industry. We feel very fortunate to have such a qualified and engaging person as a director.”
“I am excited about the prospects ahead for mix1,” Rauch said. “I believe the company has a fantastic product line, unique product position, and the kind of exceptional team a young company needs to be successful in the crowded food and beverage industry. That, combined with the strong financial backing of Highland Capital and an experienced board, positions us very well to be a leader in sports nutrition.”
Rauch joins a board of directors which also includes Pinkerton; Greg Stroh, co-founder of mix1 and co-founder of IZZE Beverage Company; John Burns and Ted Philip of Highland Consumer Fund; Tom DeRosa, a private investor; and Philip B. Weymouth of FBR Capital Markets.
Last fall, mix1 announced it had closed its first round of institutional funding with a $6 million investment from the Highland Consumer Fund. This board appointment is a continuation of the company’s use of the Highland Consumer Fund investment to accelerate mix1’s ongoing national rollout, including hiring additional staff, providing more marketing support in key regions, and enabling additional investments in product development and innovation.