# Noosa Yoghurt: Koel Thomae

- Show: [How I Built This](https://hardwarepodcasts.com/podcast/how-i-built-this)
- Published: 2024-11-25
- Length: 1h 07m
- Page: https://hardwarepodcasts.com/podcast/how-i-built-this/2024-11-25-noosa-yoghurt-koel-thomae

## Summary

Koel Thomae, co-founder of Noosa Yoghurt, explains how she leveraged a $75,000 equity payout from Izzy Beverage to launch a passionfruit yogurt brand in Boulder, Colorado. She details the 8,000-mile partnership with the Matthewson family in Australia and dairy farmer Rob Graves, who provided the manufacturing facility. Thomae describes the critical decision to pull out of a damaging deal with ShopRite to save cash flow, and the subsequent scaling through Target and private equity investment by Advent, leading to a $200M+ exit to Campbell’s.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-11-25-noosa-yoghurt-koel-thomae#t=0) Introduction: Koel Thomae and Noosa Yoghurt
- [3:20](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-11-25-noosa-yoghurt-koel-thomae#t=200) From IT to Food: The Izzy Beverage Experience
- [6:34](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-11-25-noosa-yoghurt-koel-thomae#t=394) Discovering Queensland Yogurt in Australia
- [15:51](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-11-25-noosa-yoghurt-koel-thomae#t=951) Funding the Startup with Izzy Equity
- [20:17](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-11-25-noosa-yoghurt-koel-thomae#t=1217) Partnering with Rob Graves and Morning Fresh
- [33:08](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-11-25-noosa-yoghurt-koel-thomae#t=1988) Packaging Strategy and Whole Foods Launch
- [42:27](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-11-25-noosa-yoghurt-koel-thomae#t=2547) The ShopRite Disaster and Cash Flow Crisis
- [50:07](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-11-25-noosa-yoghurt-koel-thomae#t=3007) Scaling with Target and Private Equity
- [56:42](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-11-25-noosa-yoghurt-koel-thomae#t=3402) Partnership Conflicts and Leadership Changes
- [1:03:24](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-11-25-noosa-yoghurt-koel-thomae#t=3804) Exit to Campbell’s and Future Plans

## Topics

- [Starting a product company](https://hardwarepodcasts.com/topic/starting-a-company)
- [Retail, wholesale & distribution](https://hardwarepodcasts.com/topic/retail-and-distribution)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Leadership, teams & culture](https://hardwarepodcasts.com/topic/leadership-and-culture)
- [Growth, exits & acquisitions](https://hardwarepodcasts.com/topic/growth-exits-and-acquisitions)
- [Packaging design](https://hardwarepodcasts.com/topic/packaging-design)

## Most relevant to

early-stage companies, companies scaling up

## Mentioned

- Noosa Yoghurt (product)
- Izzy Beverage (company)
- ShopRite (company)
- Target (company)
- Campbell’s (company)
- Advent (company)
- Whole Foods (company)
- Morning Fresh (company)
- Queensland Yogurt (product)

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- [Founder Feature: Ehime Eigbe-Akindele of Sweet Kiwi](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2025-02-07-founder-feature-ehime-eigbe-akindele-of-sweet-kiwi) (The Startup CPG Podcast)
- [#252 - The Rise of Laurel's Coffee: Whole Foods, Wegmans & 1,800 Target Stores in Two Years](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2026-06-09-252-the-rise-of-laurels-coffee-whole-foods-wegmans-1-800-target-stores-in-two-ye) (The Startup CPG Podcast)
- [Founder Feature: Bringing Froyo Back, Building in Public, and Why Pressure is a Privilege - Ashley Whalen of Chara](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2026-05-29-founder-feature-bringing-froyo-back-building-in-public-and-why-pressure-is-a-pri) (The Startup CPG Podcast)
- [Founder Feature: Charlie Gentry of TruJoy](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2024-10-25-founder-feature-charlie-gentry-of-trujoy) (The Startup CPG Podcast)

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