Summary
Overview
Nicole Bernard-Dawes, daughter of Cape Cod Potato Chips founder Steve Bernard, shares her journey building Late July organic snacks from near-bankruptcy to a $100 million business acquired by Campbell's. Starting in 2003 with organic crackers, the company struggled for years until pivoting to tortilla chips in 2009—right after her father's death and a $3.5 million loan being called in. The business transformed into a national brand before being sold. Nicole then launched Nixie Beverage Company, creating organic sparkling waters and sodas, navigating the ultra-competitive beverage space with lessons learned from her previous ventures.
The Cape Cod Chips Foundation
Nicole grew up immersed in the food business through her parents—her mom ran a health food store while her dad founded Cape Cod Potato Chips in the early 1980s. After a car crashed through the storefront in its first year, the accident ironically saved the business by generating publicity and insurance money to survive the winter. Her dad sold to Anheuser-Busch in 1985, then bought it back in 1996 for under $3 million before selling again in 1999 for $30 million. This experience shaped Nicole's vision: creating organic products that taste as good as conventional ones.
- Cape Cod Chips started in 1980 in a Hyannis storefront, initially failing until a car crashed through the front
- The accident got the company on the front page and insurance money sustained them through winter, leading to success
- Steve sold Cape Cod to Anheuser-Busch in 1985, then bought it back in 1996 for under $3 million
- Nicole grew frustrated that health food stores only had terrible-tasting products, inspiring her mission
- Steve sold Cape Cod again in 1999 for $30 million to Lance, devastating 12-year-old Nicole who saw it as a sibling
" I thought Cape Cod chips more like a sibling than I did a company. I mean, I grew up in that factory. Like I knew how to operate like a pallet jack probably before I could ride a bike. "
" People always ask, you know, you had a mom at the health food store, a dad at a potato chip company, how did that help shape you. And I mean, it's very clear to me that it 100% helped shape my perception of what type of products needed to be brought into the world. "
Launching Late July and Early Struggles
After Cape Cod's second sale in 1999, Nicole started working on her own venture. Initially planning a snack mix company, she pivoted to organic crackers after noticing the natural foods aisle hadn't evolved since the 1970s. She launched Late July in 2003 at Natural Products Expo, becoming a national brand overnight with orders from Whole Foods and major distributors. However, sales disappeared within two months as customers weren't ready for organic products, revealing a critical miscalculation about cracker velocity versus chips.
- Nicole initially planned an organic snack mix called Mulberry Snack Company but her dad discouraged it
- The 2002 Organic Food Production Act and USDA organic seal launched simultaneously with Late July
- Late July debuted at Natural Products Expo 2003 and left as a national brand with Whole Foods and distributor deals
- Sales disappeared completely about two months after the show as stores gave big orders before customers knew about organic
- Crackers have 10-to-1 slower velocity than chips, a critical miscalculation in their financial projections
" Nobody really seems to care about it in the natural food world. And I thought maybe this is my opportunity. Crackers. "
" I know that late July was successful because of me and my husband and what we did and the choices we made. I don't think people really thought that was true. You know, I think there's always that, you know, it's her dad. "
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