Success tastes sweet at Justin’s Nut Butter

BOULDER — Justin Gold, the “Justin” in Justin’s Nut Butter LLC, recently did some research at a chocolate plant in Pittsburgh, the town where he grew up.

The 34-year-old founder of Justin’s was thinking about some of the possible new treats his company might make to add to its current success with nut butters, peanut butter cups and a new, Snickers-style candy bar

But Gold hasn’t only been thinking about confectionary items. He’s now thinking about how he may brand his company to become more like Amy’s Kitchen, a mostly frozen-food vegetarian products company in Petaluma, California.

Justin’s revenue grew 378 percent, from $2.3 million in 2009 to $11 million in 2011. That rapid growth put the company in the No. 2 spot on the Boulder County Business Report’s Mercury 100 list of fastest-growing private companies in Boulder and Broomfield counties reporting revenue of more than $2 million.

“A lot of our growth is taking products that consumers already love and making them better for you,” Gold said. “We have had a lot of success identifying things that I love and making them healthier without compromising on taste. That formula has proven extremely successful for us.”

Gold calls the company’s success a “rocket ship ride,” from his start selling nut butter at the Boulder Farmer’s Market in 2004 to his current strategy to build a platform of products aligned around nut butters and health. The company took a gamble when it rolled out its organic peanut butter cup product several years later, but that also has done well, Gold said.

“It’s a dream come true for me.”

The company also was helped by Whole Foods Market Inc (Nasdaq: WFMI), which loaned it $100,000 in October 2010, following a loan of $50,000 in 2007. Both loans were paid back in full.

Justin’s growth also has helped contract manufacturer food company Fresca Foods in Louisville grow, said Liz Myslik, executive vice president of marketing and sales at Fresca. Contract workers at Fresca make all of the Justin’s nut butters as well as the fillings for the peanut butter cups and the recently released Snickers-style candy bar.

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