VISTA, Calif., U.S. — NuZee, Inc. (“NuZee” or “the Company”), a specialty coffee company and a leading U.S. single serve pour over coffee producer and co-packer, announced on February 14, 2019, the appointment of Shanoop Kothari as Senior Vice President and Chief Financial Officer.
“Shanoop has nearly 25 years of experience and an extensive background in financial planning, strategy, operations, and capital markets,” said Masa Higashida, NuZee’s Chief Executive Officer. “We believe that his background in working with growing companies makes him an ideal fit for this role, and that his vision and counsel will help support the ongoing expansion of our co-packing business for regional and global coffee brands.”
Mr. Kothari joins NuZee from B. Riley FBR, where he was Senior Managing Director and Head of E&P investment banking. Prior to that, he was CFO of Endicott Biofuels and its subsidiary, Sabine Biofuels and spent seven years at Credit Suisse in the energy investment banking group. Mr. Kothari also held positions of increasing responsibility, including Interim CFO, at BindView Development, a global provider of IT security compliance software prior its acquisition by Symantec Corporation in 2005.
He managed the worldwide finance and accounting group at BindView, led the company’s initial public offering and subsequent equity offerings, and completed several acquisitions. Mr. Kothari started his career in public accounting with PriceWaterhouse, where he was a Senior Auditor.
Mr. Kothari holds a BA (Honors) in Accounting from Southern Methodist University and an MBA (High Honors) from Rice University. He is a licensed CPA / CIA and possesses Series 7 / 24 licenses.
“Shanoop is joining NuZee at a critical time in our development,” said Travis Gorney, NuZee’s President and COO. “We believe that our Drip Cup, pour over coffee pouch is helping to revolutionize the way Americans can enjoy their coffee by offering craft quality product with anywhere convenience. With his varied and distinct level of experience, we have every confidence that Shanoop will help guide NuZee’s financial future and manage our growing business.”
“I am honored and excited to take on this new role and look forward to supporting NuZee’s growth and evolution,” said Mr. Kothari.
Update on Expansion Activities
On December 5, 2018, NuZee entered into an agreement to acquire a facility in Irving, Texas for the purpose of expanding its manufacturing and distribution capabilities, as well as, over time, vertically-integrating certain aspects of its operations. On January 23, 2019, the Company exercised its option to cancel the purchase of the facility with the return of substantially all the initial $30,000 deposit.
Mr. Kothari will help lead NuZee’s exploration of opportunities that further expand its operations and geographic footprint, both organically and via acquisition.
