One of the most important things you to understand about Annie’s is that we are a mission driven company. We operate by important core values around quality, integrity, social responsibility, and environmental sustainability. Understanding that is key to understanding our brand, our business opportunity and most importantly our unique company culture.
The values you see here on this page and that I just mentioned are internally woven into the brand and the value proposition that consumers vote with at shelf when they connect with our brand. And we think that’s very important to current as well as next generation consumers as they relate to us and support where we headed. Mission and culture had been a very important competitive advantage for Annie’s in the past and we expect they will be the future as well.
On the strength of strong great products and strong execution and our mission, we’ve been able to develop into one of the leading natural organic brands in the United States. We’ve grown from natural channel roots into over 25,000 points of distribution. As you can see on the left hand side of the page, we’ve approximately double sales 17% CAGR over the last five years or so. And we’ve significantly increased our operating income which was $20 million on an LTM basis and importantly over $10 million in free cash flow during that time frame due to our efficient business model that you will hear about in a moment.
We are well positioned for future continued growth and strong cash flow generation in the core business. Our recipe for success with the brand is really simple. We identify big conventional food categories that are important and highly relevant to mom, kids, and family. And then we develop a simple delicious natural organic alternative to appeal to that consumer and make it widely available where consumers want to shop.