STORY HIGHLIGHTS
- Seena Chriti's artisan snack brand Paktli Foods is a finalist in PepsiCo's accelerator program.
- One finalist will receive a $100,000 grant.
- The food company’s ancient grain snacks will launch in 400 Sprouts stores.
A Cincinnati-born snack brand has landed a lauded spot in an accelerator program backed by one of the biggest names in the food and beverage business.
Seena Chriti, founder of Paktli, an artisan snack food brand, is one of eight finalists participating in PepsiCo’s Greenhouse Accelerator Program, formally titled the Juntos Crecemos (Together We Grow) Edition. The selection comes with a $20,000 grant – with the potential for an additional $100,000 award – and a slew of national exposure to the food company’s network, venture capitalists and investors.
“It was such a beautiful surprise,” Chriti told me.
The program start comes as Chriti is in the midst of fulfilling her largest order to date with a publicly traded supermarket chain. Its launch in those stores is expected soon.
Chriti founded Paktli in 2020. She wanted to recreate her favorite childhood treat growing up in Mexico, alegrías, a crumbly, puffed street snack.
Paktli’s products are made with ancient grains: organic puffed amaranth, quinoa, millet, high-quality chocolates, dried fruits and nuts. The snacks are all-natural, organic and gluten-free. There are also vegan and soy-free options.
“This (alegrías) is something I grew up with, but I never saw it on the shelves (in the U.S.), and when I did, it was of very poor quality,” she said. “I brought the product to life within six months.”
Chriti first found a home at Findlay Kitchen, a nonprofit incubator for food businesses, and in 2022, landed a $30,000 Main Street Ventures grant to revamp her product packaging. Based on feedback, Paktli has transitioned to a resealable pouch, and the product is now bite-sized. Chriti said new equipment also helped her scale.
A recently planned move to a local copacker will further increase production capability.
Paktli is set to land at 400 Sprouts Farmers Market (Nasdaq: SFM) stores, part of the Phoenix-based grocer’s innovation set for emerging brands. A launch date is to be determined, but it’s a massive move, Chriti said.
Paktli, to date, is sold at roughly 70 independent retail shops – mainly coffee shops and natural stores – online and at farmer’s markets. The Sprouts order is almost the equivalent of her whole year of direct-to-consumer sales.
“It's going to make me or break me,” she said. “But once I’m set up with the copacker, and I understand the process, I’m going to search for bigger accounts I can sustain.”
The PepsiCo accelerator, which kicked off in late June, runs through November. Throughout the five-month program, Chriti receives support from two mentors.The program aims to accelerate the growth of the businesses.
Chriti said she’s already received heaps of positive feedback. The others in the cohort, food and beverage brands based in Dallas; Chicago; New York City; Miami; Austin, Texas; and Rochester, N.Y., are also all Hispanic-inspired.
“They (the judges) said I raised eyebrows, because it's very unique in texture, and in concept,” she said. “I cannot explain to you the happiness that brought to me. It was so validating, and I know this is going to be an amazing journey.”
The program comes with an initial $20,000 grant. “It's instrumental at the moment,” she said. Chriti said it’s harder to raise capital as a food-based consumer packaged goods (CPG) brand. Funding is her most critical need right now.
“The food business is very competitive, and there is a lot of risk involved,” Chriti said.
At the program’s end, one finalist will be chosen to receive an additional $100,000 – an award based on progress made during the program and how the companies implemented the learnings from their mentors.
Chriti said there’s also potential for future collaborations. One of her mentors is the director of global change for PepsiCo.
“Building on the success of last year's program, where the businesses expanded distribution and accelerated revenue in just six months, we're committed to nurturing these eight new ventures toward sustainable success," Esperanza Teasdale, vice president and general manager of the Hispanic business unit for PepsiCo Beverages North America, said in a news release.
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