Belgian Boys Pitch Deck (2022): 14-Slide Series A Deck

See all 14 slides of the Belgian Boys pitch deck — a 2022 Series A deck — with a slide-by-slide teardown of what the deck does well and where it falls short.

Belgian Boys' Series A deck is a high-energy, brand-forward presentation that successfully raised $7M in 2022. Rather than leading with complex spreadsheets, the company leans into its 'Turn Up The Happy' ethos, using vibrant visuals and character-driven storytelling to illustrate its market fit. The deck highlights significant traction, including growth from 3,000 to 5,000 stores between 2020 and 2021 (Slide 10) and a diverse product line spanning 20 SKUs (Slide 4). While it lacks a formal team slide with professional biographies or a specific financial 'Ask' slide, it compensates with a cle…

Key takeaways

Belgian Boys: A Masterclass in Brand-Led CPG Fundraising

Belgian Boys raised $7M in 2022 for their Series A round. In a world where pitch decks are often sterile and data-heavy, this 14-slide deck stands out for its commitment to brand aesthetics and emotional storytelling. The company, which operates in the food and e-commerce space, uses this presentation to prove that 'joy' is a scalable business metric.

Slide 1-2: The Visual Hook

The deck opens with a bold, hot-pink title slide featuring the Belgian Boys logo and an 'Investment Opportunity' subtitle. Slide 2, titled 'Turn Up The Happy,' immediately showcases the product range. We see a variety of packaging—Cookie Tarts, Choco-Caramel Cookie Bars, Almond Butter Cakes, and Belgian Waffles. This slide establishes the brand's visual identity: bright, multi-colored, and approachable. It confirms they are not a single-product company but a platform for European-style treats.

Slide 3: The Origin Story

Instead of a traditional 'Problem' slide, Slide 3 uses a narrative approach titled 'Belgian Boys Story.' It features two illustrated characters, 'Skinny & Chubby,' who grew up in Belgium and moved to the US. The narrative explains that they would fill their suitcases with European treats for friends, leading to a mission to 'make the world a little sweeter.' This humanizes the brand and explains the 'why' behind the business without using corporate jargon.

Slide 4: The Traction 'Sweet Stats'

Slide 4 provides the first hard data points. The company highlights that in 2020, '6M+ treats were indulged' and they occupied '3000+ retail shelves.' Other key metrics include having 20 SKUs across 4 categories, doubling the team size, and reaching '18M+ smiling customers.' They also mention a social impact metric: over 80,000 treats donated to local communities. This slide effectively balances commercial success with brand sentiment.

Slide 5: Market Size and Positioning

Slide 5, 'The Industry and Growth,' defines the Total Addressable Market (TAM). They break the specialty market into three segments: Cookies ($1.5B), Refrigerated ($1.7B), and Frozen ($2.7B). The slide positions Belgian Boys as the 'millennial household's staple for indulgence.' They list their strengths as being 'portion conscious & junk free,' 'convenience-ready without compromising on ingredient standards,' and offering 'premium permissible indulgence.'

Slide 6-7: Brand Philosophy and Packaging

Slide 6 emphasizes that they are in the 'business of fun' and deal in the 'currency of smiles.' Slide 7 dives into 'Dynamic Branding & Messaging.' It showcases their 'Bold Packaging' and emphasizes 'Premium Ingredients' like butter, eggs, and flour instead of artificial flavors. This slide is crucial for CPG investors as it demonstrates how the product stands out on a crowded retail shelf.

Slide 8-9: The Consumer Experience

Slide 8 breaks down the 'Customer Experience' into three day-parts: 'Start Your Day' (breakfast staples), 'An Anytime Escape' (individually wrapped treats), and 'Evening Indulgence' (dessert). Slide 9 gets more specific with 'Our Customers' Needs,' identifying three personas: the Modern Mom, Millennial Foodies, and the Guilty Snack-Lover. By mapping products to specific consumer behaviors, they show a sophisticated understanding of their market fit.

Slide 10-11: Omni-Channel Strategy

Slide 10 is the 'Wall of Logos.' It lists major retail partners including Walmart, Target, Kroger, Costco, and Amazon. The most important figure here is the growth metric: '3,000 stores in 2020 -> 5,000 stores in 2021.' Slide 11 illustrates the 'In-Store Strategy,' showing how the brand appears in different sections of the grocery store—Frozen, Cookies, Fresh, and Impulse (at the register). This 'multi-touchpoint' strategy is a key driver of their retail velocity.

Slide 12: Ubiquity and Partnerships

Slide 12, 'Becoming a Ubiquitous Brand,' highlights strategic partnerships that move the brand beyond the grocery aisle. Notable partners include JetBlue (in-flight snacks), Drybar, Popbar, and the Brooklyn Nets. These partnerships serve as high-visibility 'trial opportunities' that build brand awareness without traditional advertising spend.

Slide 13-14: Mission and Success Metrics

Slide 13 details their 'Social Mission,' including community responses and partnerships with organizations like City Harvest and The Birthday Party Project. The final slide, 'How We Measure Success,' uses a post-it note aesthetic to list seven pillars: People, Fans, Brand, Product, Innovation, Social, and Scale. Interestingly, 'Scale' is defined as sustaining a 'profitable and growth-driven business,' though no specific profit margins are provided in the deck.

What Belgian Boys Does Well

1. Brand Consistency: Every slide feels like it was designed by the same hand. The use of the 'Skinny & Chubby' characters and the vibrant pink palette creates a memorable identity that sticks with an investor long after they close the PDF.

2. Retail Proof: For a CPG brand, distribution is everything. By showing a 66% increase in store count in a single year (Slide 10) and listing top-tier retailers, Belgian Boys proves they have 'retailer pull' and can handle the logistics of national distribution.

3. Persona Mapping: Slide 9 is a highlight. Instead of saying 'everyone eats cookies,' they identify specific shoppers and their motivations. This allows investors to visualize the exact marketing and product development strategies required to reach those segments.

What is Missing from the Belgian Boys Deck

1. The Team Slide: While the founders are represented by illustrations, there is no slide detailing the professional pedigree of the leadership team. Investors usually want to see who is managing the $7M—specifically their experience in supply chain, finance, and retail operations.

2. Unit Economics: The deck is light on financial specifics. There is no mention of Gross Margins, Customer Acquisition Cost (CAC) for their e-commerce channel, or Lifetime Value (LTV). In a Series A, these numbers are usually scrutinized heavily.

3. The Ask: The deck ends without a clear call to action. It does not state how much they are raising (though we know from external sources it was $7M) or how that capital will be deployed (e.g., expanding the sales team, R&D for new SKUs, or marketing spend).

Founder's Takeaway: Copy the Narrative, Add the Data

Founders should look to Belgian Boys as a gold standard for brand storytelling . They successfully turn a commodity product (cookies and waffles) into an 'experience' and a 'mission.' However, most founders will need to supplement this level of branding with a robust 'Appendix' or additional slides covering the team's CVs and a detailed 3-year financial forecast. Belgian Boys likely relied on their existing retail relationships and visible success to bypass some of the more rigorous data requirements in the main deck, but for an unknown startup, the data is the necessary anchor for the brand's 'joy.'

Frequently asked questions

What is the primary focus of the Belgian Boys pitch deck?
The deck focuses heavily on brand identity and retail distribution. It uses a vibrant pink color palette and custom illustrations to communicate a 'joy-driven' business model. Unlike tech decks that lead with software architecture, this CPG deck leads with product photography and proof of shelf space in major retailers like Walmart, Target, and Costco.
How does Belgian Boys define its market opportunity?
On Slide 5, the company breaks down the 'Specialty Market Size' into three segments: Cookies ($1.5B), Refrigerated ($1.7B), and Frozen ($2.7B). They position themselves as a 'millennial household staple' that fills the 'whitespace' between junk food and ultra-premium health food by offering 'premium permissible indulgence.'
Who are the target customers for Belgian Boys?
Slide 9 identifies three core segments: the 'Modern Mom' looking for quick breakfasts and value, 'Millennial Foodies' who value unique branding and online shopping, and 'Guilty Snack-Lovers' who want portion-conscious indulgence with whole-food ingredients. This shows investors the brand has a broad appeal across different shopping behaviors.
What retail traction does the company demonstrate?
The deck shows significant scaling in physical retail. Slide 10 lists dozens of logos including Whole Foods, Kroger, Safeway, and Sam's Club. Crucially, it notes a jump from 3,000 stores in 2020 to 5,000 stores in 2021, proving the brand's ability to secure and maintain national distribution.
What is missing from this pitch deck?
The deck lacks several standard Series A components. There is no slide detailing the executive team's professional backgrounds, no detailed financial projections or unit economics (CAC/LTV), and no 'Ask' slide specifying how the $7M will be spent. It relies almost entirely on brand momentum and existing retail success to tell the story.
Cover slide of the Belgian Boys pitch deck — Series A 2022
Belgian Boys pitch deck, slide 1 (2022)

Belgian Boys pitch deck: the facts

Company
Belgian Boys
Year
2022
Stage
Series A
Slides
14
Sector
Food, E-commerce
Deck type
Investment Pitch
Outcome
$7M Raised
Headquarters
United States

Belgian Boys pitch deck PDF

The full Belgian Boys deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Belgian Boys pitch deck was used for

This is Belgian Boys’ 14‑slide fundraising deck used in 2022 to raise a $7M Series A round for its European‑inspired snacks and fresh breakfast CPG brand. The company had previously bootstrapped for about seven years before taking its first institutional capital, led by Equilibra Ventures, the investment platform of KIND Snacks founder Daniel Lubetzky. The deck focuses heavily on brand story, fun positioning, and customer experience touchpoints (e.g., all‑day use occasions) rather than detailed financial modeling, reflecting a brand‑forward approach to Series A fundraising in CPG. The capital was aimed at expanding retail distribution, scaling operations, and growing fresh breakfast and other innovative product lines, including new headquarters and Canadian expansion.

Business model: Belgian Boys is a Brooklyn, New York-based food brand selling European-inspired snacks and fresh breakfast items such as waffles, cookies, crepes, cakes, and heat-and-eat refrigerated breakfast products through retail distribution in thousands of U.S. stores.

Round
Series A
Year
2022
Raised
$7M
Lead investor
Equilibra Ventures
Investors
Equilibra Ventures (investment platform and family office of KIND Snacks founder Daniel Lubetzky)
Founded
2015
Founders
Greg Galel, Anouck Gotlib
Headquarters
Brooklyn, New York, United States
Industry
Food and Beverage; Consumer Packaged Goods (CPG); Snacks and Breakfast Foods
Total funding
$7M total funding across one institutional round as of 2022.

Raising: Series A growth capital for retail expansion, innovation in fresh/refrigerated breakfast, new headquarters, and broader North American footprint.

Use of funds as presented: Expand Belgian Boys’ retail distribution (with a focus on fresh breakfast items and "outside the aisle" merchandising), invest in a new New York headquarters, finance innovative product lines, and support expansion into Canada.

What happened after the Belgian Boys deck

Following the 2022 Series A raise using this deck, Belgian Boys remained a privately held, fast-growing CPG brand with expanded U.S. retail distribution, a stronger presence in refrigerated breakfast, and strategic backing from Equilibra Ventures, with no publicly reported subsequent institutional funding rounds beyond the original $7M.

What the Belgian Boys deck got right

What could have been stronger

How an investor would read this deck

What draws attention

Risks that stand out

Questions this deck invites

What founders can take from the Belgian Boys deck

Belgian Boys pitch deck: common questions

What does Belgian Boys do?

Belgian Boys is a Brooklyn-based CPG brand that sells European-inspired treats and fresh breakfast items like waffles, cookies, crepes, cakes, and refrigerated heat-and-eat breakfast products in thousands of U.S. retail stores.

How much did Belgian Boys raise with this pitch deck, and who led the round?

In 2022, Belgian Boys used a 14-slide Series A pitch deck to raise a $7M funding round led by Equilibra Ventures, the startup and investment platform of KIND Snacks founder Daniel Lubetzky. This was the company’s first institutional round after about seven years of bootstrapping.

Who founded Belgian Boys?

The company was founded by Belgian-born husband-and-wife duo Anouck Gotlib and Greg Galel, who moved from Belgium to New York City and built Belgian Boys into a cult-favorite brand sold in major retailers such as Target and Walmart. Earlier narrative references to “two Belgian boys” Greg and Joël describe the original story behind the brand.

Was Belgian Boys’ $7M raise a Series A, and are there other institutional rounds?

Sources describe the $7M as a Series A round led by Equilibra Ventures, closing around January 2022, with some databases listing it as a single $7M Series A round and noting that details of other participating angels were not disclosed. There are no credible public reports of a different total amount or additional closed institutional rounds beyond this $7M round as of the cited sources.

What was the purpose of the funds raised with this deck?

The pitch deck and related coverage indicate the funds were used to support retail expansion (including fresh refrigerated breakfast items), establish a new headquarters in New York, finance innovative product lines, and grow the brand’s footprint including Canadian expansion.

Sources

Funding and outcome facts on this page were researched on 2026-08-21 from the pages below.

Belgian Boys pitch deck slides

Belgian Boys pitch deck slide 1 of 14
Belgian Boys pitch deck — slide 1 of 14
Belgian Boys pitch deck slide 2 of 14
Belgian Boys pitch deck — slide 2 of 14
Belgian Boys pitch deck slide 3 of 14
Belgian Boys pitch deck — slide 3 of 14
Belgian Boys pitch deck slide 4 of 14
Belgian Boys pitch deck — slide 4 of 14
Belgian Boys pitch deck slide 5 of 14
Belgian Boys pitch deck — slide 5 of 14
Belgian Boys pitch deck slide 6 of 14
Belgian Boys pitch deck — slide 6 of 14

What each slide of the Belgian Boys pitch deck says

Slide 3

Skinny & Chubby grew up in Belgium with lots of deliclous European treats & plenty of mischief. ++ BELGIAN BOYS STORY *. - SR They both moved 1o the US and on each visit home they would fill their suitcases with goodies for themselves and their American friends. They set out on an adventure 1o become entrepreneurs, with 8 mission 1o make the worid a little sweeter and offer an escape from the everyday.

Slide 4

@ Kd | 5d 6M+ — 3000+ 20 Treats were Retail shelves SKU'S across indulged looked brighter 4 Categories 2x — 18M+ >80K Double the team Smiling Treats donated to = Double the passion customers local communities

Slide 5

Belgian Boys aims to become the millennial household's staple for indulgence, quality standards and taste. Our company is poised to capture market share in several GROWING categories, finding whitespace to paint on. COOKIES BR) REFRIGERATED f— FROZEN somes $1.58 sowrywiirsee $1.78 wiowrvmmerse $2.7 ty STRENGTHS 1] STRENGTHS consoous ww TREE a 7 ON INGREDIENT STANDARDS & JUNK FREE - Be a i ts

Slide 6

++ WHO WE ARE TODAY *. We're In the business of fun: Our goal is to pack the maximum amount of love, happiness and WOW into every treat we make. We naver take ourselves 100 seriously, and we deal In the currency of smiles, We're more than just a revenue-driven business. We're passionate about creating joy for our customers, and about spreading sweetness in people's ves

Slide 8

+* OUR CUSTOMER EXPERIENCE *- We are present at multiple touchpoints in our customers' days J START YOUR DAY AN ANYTIME ESCAPE EVENING INDULGENCE Weekend toste meets weekday converence Troat yoursell ot home of on the g0 with our Celebrate e erd of o duy wih Wiih o rency thede breehfas ! viaokes, wivedually wrag oed anytiow beots s st ble dessert * TASTY M0 CanvEMIEn W "b00s comats w oreaT sucH LOVE THE M PANCAKES. SIZELOVE THESE N8 vi0uaLLY THEY ARE EASY TOMAKE AND WRASPLD COONES. GALAT TO TASTE WONDIRFUL DROP A COUPLL IN MY BAC FOR THAT LITTLE SNACK BN THE RN - " ran

Slide text above is read directly from the Belgian Boys deck PDF embedded on this page.

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