Exiting for a Record Multiple to Morgan Stanley with Dru Riess

The Exit - Presented By Flippa

Technology

5 • 2K Ratings

🗓️ 26 December 2022

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week on The Exit: The minute Dru left college he was on the hunt for an opportunity. His desperation took him to a dusty barn in Dallas with an old printing press and a contact written on a napkin for 49% of a business that at the time wasn’t operational. This was the beginning of Popular Ink, which grew to the number one print packaging business in the US, and was acquired by Morgan Stanley for a record multiple. Listen to learn how Dru built the business from nothing and exited to one of the biggest investment management companies. Andrew (Dru) Riess is a visionary executive and profitability catalyst with repeated success growing revenue, optimizing profits, and expanding business footprint within multimillion-dollar corporations, private-equity backed organizations, and entrepreneurial start-ups. Among many achievements Dru founded the company Popular Ink in 2007. Popular Ink, LLC had grown organically to be a leader in short run, high service specialty packaging for health and beauty and nutraceutical mar-kets, before its acquisition by PPC in 2019. LinkedIn - https://www.linkedin.com/in/riess2/ Website - https://innovativegummies.com/ -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Transcript

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0:00.0	Hello and welcome to the exit presented by flippa the world's largest marketplace to buy and sell online businesses and startups
0:06.6	The exit is a 30-minute podcast featuring amazing entrepreneurs who have been there and they have done it
0:11.2	The exit talks to operators who have bought and sold businesses of all the different sizes you learn how they did it
0:16.0	Why they did it and get exposure to the world of exits the world occupied by a small few but accessible to many now in this episode
0:24.0	I sit down with Drew Reese
0:25.6	He's an awesome entrepreneur who is really inspirational to just listen to about his ability to fix these businesses and he goes through
0:35.8	His story of literally living in this barn fixing a printing press and just how he grinded his way to a full-blown exit and where he is now
0:47.5	At this gummy company that he is running in
0:51.0	In Texas where he's created this I think he said it was like 50,000 square foot facility and it is the
0:59.4	American manufacturing
1:01.4	Beating heart of gummies is what it's about to become and there's a bunch of direct consumer gummy companies coming up
1:07.8	But this one is focused on the cream of the crop. This is focused on the luxury gummy brands out there and his story of going through
1:16.8	And all the different ups and downs like multiple people coming in and out of the company all the different
1:24.2	You know swings of getting it started and there's just a really incredible story here with going back and forth through
1:32.1	All these different
1:33.8	Like acquisitions and stuff like that. It's really impressive
1:36.5	So I wanted to sit down and unpack how that exit really
1:41.4	You know transformed Drew's trajectory of his career and also what he's doing now
1:47.2	I think is really awesome the company the PE company that
1:51.9	Went through the acquisition with him at his previous company
1:56.4	really helped him with this new company and rolling up a couple of
2:01.2	gummy firms and
	...

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