When Terry McDaniel became president and CEO of Inventure Foods, the Phoenix, AZ-based company had $69.8 million in sales in 2006. “It was a turnaround situation,” he said. “There had been a change in management, and new product ventures that were not successful. I saw solid brands, some good facilities and a base of good people.”
For 30 years, Mr. McDaniel had worked for a variety of snack and consumer packaged goods companies. He began taking the best practices from his past experience and blending them with Inventure Foods’ fast-growth environment. Then he focused on delivering consistent earnings and top line growth. In fiscal 2010, the company’s revenue reached $134 million, EBITDA had increased sixfold, and shareholders were rewarded as well with a stock price increase of 84%. On July 18, Mr. McDaniel and other executives rang the opening bell on the Nasdaq, where Inventure Foods is listed under the symbol of SNAK.