San Mateo SBDC

"The services we received from the SBDC were incredibly helpful to our efforts to purchase and restart the company. The knowledge and experience of the SBDC personnel, combined with their high levels of professionalism and responsiveness makes them an amazing resource for small businesses."

Ari Cohen and Andrew Cohen

BACKGROUND

Brothers Ari and Andrew Cohen realized that they were no longer able to eat dairy products as adults. They loved homemade nut milks, and it struck them - here was something naturally creamy and tasty, low in saturated fat and packed with nutrients.  Why not use them to create an ice cream alternative?

They developed an organic cashew ice cream from natural ingredients, with no additives or preservatives, and introduced the product to market under the Mr. Dewie’s brand.  A larger food company offered to incubate the company and finance initial growth, and six flavors were introduced into stores in the Western US.

CHALLENGES

This parent company changed strategic priorities, and offered the brothers an opportunity to purchase the company.  Valuing and structuring the terms of a purchase, negotiating and financing the ongoing operations presented significant challenges.

ACTIONS

Lee Lambert, SBDC Director, advised the brothers regarding various aspects of the purchase of the assets of the company and financing of the new company. Tara Lynn Gray, SBDC advisor, worked with the company on their crowdfunding campaign to launch the new operation.

RESULTS

The brothers successfully closed the purchase of the assets of the company, raised investor financing and conducted a successful crowdfunding campaign. Manufacturing was relocated and opened in San Leandro, and their first retail outlet was opened in Albany in March of 2016.

Apply Now

It all starts here. Complete the application and submit your request. A member of the SBDC will follow up with you and help you achieve your small business goals -- at no cost to you.
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Funded in part through cooperative agreements with the U.S. Small Business Administration, the California Governors Office for Business and Economic Development, and other private and public partners;  and nationally accredited by the association of SBDCs.