From Wall Street to Snack Food Success: The Inspiring Journey of Charles Coristine
In 2011, Charles Coristine took a leap of faith that would change the course of his career and lead to the transformation of a struggling snack company into a $103 million empire. Leaving behind a high-pressure job on Wall Street, Coristine purchased LesserEvil, a company on the brink of collapse, for $250,000. Despite having no prior experience in the food industry, Coristine saw potential in the company’s mission of offering healthier snack options, aligning with his own journey towards a more mindful lifestyle.
The Impulsive Purchase
Coristine’s journey into the world of snack foods began unexpectedly at a barbecue where he met the previous owner of LesserEvil. Intrigued by the idea of revitalizing a struggling company, Coristine made the impulsive decision to purchase LesserEvil for $250,000, with an additional $100,000 due later. Admitting that he did not conduct thorough research before making the purchase, Coristine reflected on his bold move, acknowledging that sometimes taking risks can lead to unexpected success.
A Scrappy Beginning
In the early days of leading LesserEvil, Coristine faced numerous challenges as he worked to turn the company around. Juggling multiple responsibilities, including pursuing his MBA at Cornell University, Coristine eventually dedicated himself full-time to the role of CEO in 2012. Assembling a scrappy yet motivated team, Coristine hired unconventional candidates, such as his wakeboarding instructor as the head of marketing, showcasing his unique approach to building a business.
One of the key decisions that Coristine made early on was to bring production in-house by moving the company to a 5,000-square-foot factory in Danbury, Connecticut. By purchasing used equipment at auctions and customizing machinery with the help of local welders, the team was able to cut costs and take control of the production process. Embracing a hands-on approach, the team even personally painted the factory and added a bright yellow “LesserEvil” sign on the exterior, reflecting the company’s scrappy beginnings.
A Healthier Direction
Under Coristine’s leadership, LesserEvil underwent a transformation that would lead to its success as a brand. In 2014, inspired by his nutritionist, Coristine introduced coconut oil into the company’s popcorn recipes, leading to the creation of the Buddha Bowl, a product that would become a cornerstone of the company’s success. By the end of 2014, Buddha Bowl generated $2 million in revenue, signaling a turning point for the company.
As LesserEvil gained momentum, major retailers like Kroger began stocking their products, providing a steady stream of income that fueled the company’s expansion. With a focus on healthier, more mindful snacking, LesserEvil rebranded its packaging, adopting a laughing Buddha logo and featuring “guru” characters inspired by historical and cultural figures. This rebranding effort reflected the company’s commitment to offering products that aligned with their mission.
Challenges and Growth
Despite its rapid growth, LesserEvil faced challenges along the way, including a setback in 2023 when Consumer Reports revealed concerning amounts of lead in two of their snacks. In response, the company quickly pulled the products from shelves and committed to reformulating the recipes to eliminate the problematic ingredient. Despite this setback, LesserEvil maintained strong sales and continued its upward trajectory.
In the first half of 2024, LesserEvil’s net sales reached $62 million, and the company secured $19 million in additional funding to support its growth. With plans to build a new factory in New Milford, Connecticut, LesserEvil continued to expand its production capacity and solidify its position in the market. Today, the company employs 280 people and continues to innovate under Coristine’s leadership.
A Newfound Balance
For Coristine, the success of LesserEvil goes beyond financial gains. After years of burnout on Wall Street, he now enjoys a healthier work-life balance, finding time for meditation and mindfulness practices. Embracing a new way of working, Coristine no longer feels the intense pressure of round-the-clock trading hours, instead finding fulfillment in building a company he believes in.
Reflecting on his journey from Wall Street to the snack food industry, Coristine acknowledges the challenges and triumphs that have shaped his path. Through hard work, strategic thinking, and a commitment to a vision, Coristine has demonstrated that taking risks and thinking outside the box can lead to remarkable success. As LesserEvil continues to grow and innovate, Coristine looks towards the future with optimism, grateful for the journey that has brought him to where he is today.