Intentional Growth. An ‘Accidental’ Exit. How Nona Lim Found Its Buyer.

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Nona Lim describes the sale of her eponymous brand as “accidental.” The way in which she positioned the company for success and an eventual exit, however, was anything but.

Founded in 2014, Nona Lim Foods made a name for itself as a brand of better-for-you, easy-to-prepare Asian meals, including fresh noodles, broths and stir fry kits.

Nona, who first joined us for an interview back in 2020, has long stressed the importance of product-market fit and a deep understanding of business fundamentals – two pillars that played a pivotal role in building a sustainable brand.

Her focus and vision helped Nona Lim Foods achieve national distribution, securing shelf space in major retailers like Whole Foods, Target, Wegmans, and Kroger.

In 2022, a serendipitous meeting led to the acquisition of Nona Lim Foods by DayDayCook, a food and content brand platform based in Hong Kong. The partnership was seen as a perfect fit, with DayDayCook’s CEO highlighting their shared vision to bring delicious Asian dishes to the U.S., reimagined with clean ingredients for a modern, health-conscious audience.

Nona continued to lead the brand as CEO until June of 2024. While the future of Nona Lim Foods is uncertain – its website is currently down and its social media has been inactive since July – Nona remains deeply engaged in the food and beverage industry as the chair of the board for the Specialty Food Association (SFA), which organizes the biannual Fancy Food Show.

In this insightful conversation, Nona shares why founders should think intentionally about their "end goal," the importance of generating retail velocity without heavy marketing spend, and why having a well-organized data room is essential for raising funds or preparing for an exit. She also opens up about the emotional impact of selling a business that she built from the ground up.

Show notes:

0:25: Nona Lim, Founder, Nona Lim Foods – On location in Las Vegas at the final edition of the Winter Fancy Food Show, Nona talks about the SFA’s decision to rebrand and relocate the event and which booth expectedly drew crowds. Ray recalls her first appearance on Taste Radio in which she emphasized the power of saying "no" to prioritize the right opportunities, why she encourages founders to consider why they are building their businesses and why great packaging only works under certain conditions. Nona also discusses how she met and developed a good rapport with the CEO of her brand’s eventual acquirer, the shifting dynamics of fundraising post-COVID and why she references Amy’s Kitchen when giving advice to early-stage entrepreneurs.

Brands in this episode: Nona Lim Foods, gimme Seaweed, Sun Noodle, Amy’s Kitchen

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