At The Saratoga Forum, Brooks Addington, CEO of TÖST Beverages, discussed the evolution of his company, focusing on the challenges and successes in launching a non-alcoholic beverage brand. Brooks shared his journey from working in equity brokerage to transitioning into the competitive consumer packaged goods (CPG) industry. He highlighted key moments like forming a board, managing investors, and navigating the complexities of scaling TÖST.
During the discussion, Brooks provided insight into the importance of building a functional, supportive advisory board. He emphasized that a board with relevant expertise and willingness to actively help the company is critical for growth. In contrast to typical “show boards” with big names but little involvement, Brooks underscored how a lean, committed board with real industry knowledge has been crucial to TÖST’s success. He also reflected on the role of strategic investors, acknowledging the advantages of partnering with groups like Constellation while balancing the challenges that arise from their vested interest in acquiring the company.
The conversation highlighted the importance of strong leadership, the need for hands-on board members who can provide guidance in areas beyond management’s expertise, and the challenges of raising capital while growing a brand in the evolving non-alcoholic beverage market.