A ‘Scrappy’ Reinvention: How Charles Coristine Built LesserEvil into a HouseHold Name
A ‘Scrappy’ Reinvention
When Charles Coristine left his job at Morgan Stanley in 2011, he was burnt out. He tried to find his peace through meditation, a vegetarian diet, and an MBA program, but nothing seemed to work. That was until he met the owner of a snack company, LesserEvil, at a barbecue. Coristine was intrigued by the idea of a fresh start and the name’s synchronistic connection to a healthy and mindful lifestyle.
LesserEvil was struggling at the time, losing money and generating only around $1 million in annual revenue. Coristine, with his savings, bought the company for $250,000, plus a future payment of $100,000. He had no experience in the food industry, but he was ready for a change.
New Branding and an Unconventional Ingredient
In 2012, Coristine started working full-time at LesserEvil, and he brought in his MBA friend Andrew Strife as COO and CFO. The small team worked to update the branding and create their own production line. Coristine’s initial moves included hiring his wakeboard instructor as head of marketing and securing an undisclosed amount of funding from friends and family.
The team renovated an old factory in Danbury, Connecticut, and filled it with used equipment purchased at auctions. Coristine even painted the exterior of the building and added a yellow "LesserEvil" logo, which attracted curious onlookers.
Scaling Up
In 2014, LesserEvil launched its new product, the Buddha Bowl, which used coconut oil to pop the popcorn. Coristine tested the oil’s freshness by leaving a container on top of a fridge for three months. The oil stayed fresh, and the product became a success, bringing in around $2 million in revenue that year.
Kroger was the first major retailer to stock LesserEvil’s products, and the partnership helped fund the company’s move to a 20,000-square-foot factory in 2017. A year later, LesserEvil received $3 million in funding from InvestEco, which was used to add production lines and update its packaging.
Growing and Giving Back
Today, LesserEvil has 280 employees and produces 5,000 pounds of popcorn per hour. Coristine’s short-term goals include continued growth and new product launches. He wants the company to be around for the long haul, and he’s already found a sense of fulfillment in his new career.
"It feels joyous, so it doesn’t feel like work," Coristine says.
FAQs
Q: How did Charles Coristine become the CEO of LesserEvil?
A: Coristine bought LesserEvil in 2011 for $250,000, plus a future payment of $100,000, after meeting the owner at a barbecue.
Q: What was LesserEvil’s financial status when Coristine took over?
A: The company was losing money and generating around $1 million in annual revenue.
Q: How did Coristine approach the company’s struggles?
A: He and his team worked to update the branding and create a new production line, while also seeking funding from friends and family.
Q: What is LesserEvil’s current status?
A: The company has grown significantly under Coristine’s leadership, with annual gross sales of $103.3 million in 2023 and a net sale of $82.9 million. It has also become profitable since 2021 and made $14.4 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) last year.
