Transcript
Introduction
Matt
This is Matt Reustle and today we are breaking down Ecolab. As of this recording, Ecolab has a $66 billion market cap, so they are a giant in what they do. They protect over 36% of the world's packaged food supply and over 44% of the global milk supply, just to give you some sense of their business.
My guest is Todd Wenning, founder of KNA Capital Management and someone who has a knack for finding these interesting businesses. We get into the very on-brand origin story for Ecolab many decades ago, how the business kept that core focus throughout its history, and how it became one of two vendors that any US McDonald's must work with, the other being Coca-Cola.
There's a ton of interesting threads in this one, but the opportunity in water is what really grabbed my attention. It's one of these theses you've heard for many years and I had never come across a business with the exposure that Ecolab has, so an interesting one to do more research on. Now please enjoy this breakdown on Ecolab.