Charles Coristine, a former Wall Street executive, transformed his professional burnout into a lucrative venture by acquiring LesserEvil.
Despite having no experience in the food industry, his dedication and innovative strategies grew the struggling company into a thriving enterprise.
The Bold Leap
In 2011, Charles Coristine transitioned from Wall Street to the snack industry by acquiring LesserEvil for $250,000. Having spent nearly two decades in high-stress trading roles, he sought a change. Despite no prior food industry experience, Coristine was captivated by LesserEvil’s potential and its focus on healthier snacks.
Initial Struggles and Innovations
At a barbecue, Coristine was introduced to LesserEvil’s former owner, learning of the company’s financial woes and sub-million-dollar revenue. Drawn to the brand’s mission, he purchased LesserEvil for $250,000 upfront and an additional $100,000 later, admittedly without thorough research, a bold move indicative of his vision.
Coristine managed multiple responsibilities initially, including working at TD Bank and pursuing an MBA. After obtaining his degree in 2012, he committed fully to LesserEvil, assembling a unique team, such as hiring his wakeboarding instructor as head of marketing. His unconventional approach was pivotal in the firm’s early phase.
Building the Foundation
LesserEvil initially outsourced production, an expensive method. To reduce costs, the team relocated to a 5,000-square-foot factory in Danbury, Connecticut. They acquired used equipment from auctions and engaged local welders for customisation.
The team personally revamped the factory, painting it and installing a bright yellow “LesserEvil” sign, which attracted local attention. This hands-on approach symbolised the company’s ethos of reinvention and resourcefulness.
Coristine’s strategy and team creativity were crucial in tackling the myriad challenges. Reflecting on this period, COO Andrew Strife remarked on the necessity of constant innovation and resourcefulness in overcoming obstacles.
Breakthrough with the Buddha Bowl
In 2014, inspired by his nutritionist, Coristine experimented with using coconut oil in popcorn. After a successful shelf-life test, this idea led to the creation of the Buddha Bowl, a product that significantly increased LesserEvil’s revenue.
By year-end, the Buddha Bowl generated $2 million, revitalising LesserEvil’s market presence. Major retailers, such as Kroger, began stocking the product, facilitating further growth.
Adopting a laughing Buddha logo and rebranding the packaging, LesserEvil signified its commitment to mindful snacking. Each product featured a “guru” character, like the Greek poet Homer, aligning with the brand’s healthy lifestyle ethos.
Overcoming Challenges
In 2023, LesserEvil faced a significant hurdle when a Consumer Reports investigation highlighted concerning lead levels in some products. The company promptly withdrew the items and reformulated the recipes, removing the offending ingredient, cassava flour.
Despite the setback, sales remained strong and the company continued to expand, bolstered by $19 million in extra funding in 2024 from Aria Growth Partners. These funds were used to buy out early investors and build a new factory in New Milford, Connecticut, enhancing production capacity.
An Empire Built on Innovation
Today, LesserEvil employs 280 people, with Coristine continually planning new products. Reflecting on LesserEvil’s journey, he acknowledges the unexpected rollercoaster but wouldn’t trade the experience. The company’s growth to a $103 million yearly empire exemplifies resilience and determination.
Coristine’s transition from Wall Street to a thriving snack business underscores the impact of strategic risk-taking and innovative thinking. LesserEvil’s success story serves as an inspiration for aspiring entrepreneurs.
A Balanced Lifestyle Realised
For Coristine, LesserEvil’s success is more than financial gain. From enduring Wall Street burnout, he now enjoys a healthier work-life balance. His workday runs from 7:45 AM to 4:30 PM, allowing time for meditation and mindfulness, a practice he finds invaluable.
Engaging in meaningful work has contributed greatly to his well-being. He enjoys doing what he believes in, a sentiment that has significantly shaped LesserEvil’s operations and success.
From a failing snack company to a $103 million giant, LesserEvil represents the power of bold decisions and continuous innovation. Charles Coristine’s journey showcases that perseverance and creativity can lead to extraordinary success.
