MANDY HOLBOROW and SHERI PRICE, co-founders, Umpqua Oats: ‘It's breakfast, lunch, dessert, or afternoon or post-workout snack.'
By Elaine Watson
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If sales of cold cereal are not setting the world on fire, the hot cereal market is faring much better, say the founders of super-premium oatmeal cup brand Umpqua Oats, who notched up revenues of $10m+ in 2014 and hope to grow by 25% in 2015 on the back of distribution wins in retail and foodservice.
Umpqua - which was launched in 2008 by self-described soccer moms Mandy Holborow and Sheri Price in Roseburg, Oregon, and is now based in Las Vegas – moved into the black in 2010 and is entirely funded from cash flow.
Their non-GMO Project verified single serve oatmeal cups - which contain chia and flax seeds, nuts, fruit and custom-milled whole grain oats that take four minutes to cook in the cup and have a distinctive thick and chewy ‘al dente’ texture – are now available in grocery retailers from Albertsons to Kroger, and are also performing well in coffee shops, airports, college campuses, fitness centers, corporate offices and micro markets, says Price.
“When we started we thought of this as mainly a breakfast opportunity, but we know that people are eating our products for meals, desserts, afternoon snacks, and post-workout snacks.”