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Home / Business

Riot Foods co-founder and former CEO Ryan Kamins wants to return to run the company

Aimee Shaw
By Aimee Shaw
Business Reporter·NZ Herald·
7 May, 2019 07:55 PM3 mins to read

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Riot Foods co-founders Ryan Kamins (right) and television personality Art Green. Photo / File

Riot Foods co-founders Ryan Kamins (right) and television personality Art Green. Photo / File

Former Riot Foods chief executive Ryan Kamins who left the snack food company at the end of last year has resurfaced, claiming he wants to return to run the business.

In a letter purportedly sent out to shareholders this morning, Kamins said he was "pursuing two options" which would see him return to "run Riot in some capacity".

He did not specify what options he intended to pursue and would not provide further information or comment when asked by the Herald.

"Although both options being pursued will very likely improve the returns shareholders are hoping for, I seem to have to jump through some hoops first," he wrote.

"Whatever the result of these, I will continue to help and support Art, the remaining staff, and the remaining board, as best I can to turn the business around and trade indefinitely."

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Riot Foods, which makes cereals and dried meat snacks, was founded by Kamins and reality TV star Art Green in 2014.

Kamins resigned as chief executive in November citing severe alcohol addiction, and that he had checked himself into a rehab facility.

The Auckland company is currently finalising a deed of company arrangement between creditors and the company's directors which will see the business continue to trade and handed back to management to run, with administrator assistance.

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The company was placed in voluntary administration in early February after damage to a manufacturing plant left it desperate for cash.

Administrator Iain McLennan of McDonald Vague said there were no plans for Kamins to return to run Riot Foods but would assess any proposals on merit.

"[Kamins] says that he is pursuing two positive options which would see him return in some capacity. We do not know what the options are, or whether if he is successful with either of them, what impact it could have on Riot, its staff, creditors, and shareholders," he said in a statement.

McLennan said the directors and administrators would "assess any firm, funded proposal on its merits if and when we are presented with it, and if a proposal has merit the shareholders and creditors will be asked to consider it."

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The company was focused on making Clean Paleo products, he said.

Last month administrators of Riot Foods were considering legal action after confidential company emails and text messages were sent to shareholders by Kamins, who at the time said this was a "final call to explain what else really happened at Riot".

"I realise this letter has the potential to put off some potential buyers, but if they have an issue with the truth now, it's highly likely they will have an issue with it later," Kamins said.

The Herald cannot reveal details of the letter for legal reasons.

McLennan told the Herald the administrators did not agree with Kamins' claims and were seeking legal advice on the contents of the letter and attachments.

"Ryan has no role with the company. We are very concerned that after his resignation from the companies, Ryan has undertaken an unauthorised release of confidential company emails, in a selective way."

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Administrators have been working on sale options for the owner of the CleanPaleo and Poppy & Olive brands since February.

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