Brazilian cheese bread is a huge treat in Brazil, but Junea Rocha had trouble finding her favorite food in the US. As a result, Junea teamed up with Cameron MacMullin to start Brazi Bites, based on an old family recipe. These frozen balls of cheese bread are gluten-free and come frozen. What will the sharks think of these bite-sized cheese balls in
Shark Tank Brazi Bites Update
- Entrepreneurs: Cameron MacMullin and Junea Rocha
- Business: Brazilian cheese bread balls
- Ask: $200,000 for 10% equity
- Result: $200,000 for 16.5% equity
- Shark: Lori Greiner
Cameron and Junea came to the tank asking $200,000 for 10% equity. During the pitch, Junea explained about her upbringing in Brazil and that her favorite food was missing from US shelves. So she made it instead! The sharks loved the Brazi Bites samples they received.
Grain Free, Gluten Free, Non GMO, Soy Free, Sugar Free.
No prep required and ready to bake.
Even more impressive were the nutrition facts. These balls were gluten-free. Three balls only had about 120 calories. While they shipped frozen, they could be cooked in the oven. The product was in about 700 smaller stores at the time of filming.
In the previous year, Brazi Bites made $600,000 in sales. The sharks really appreciated these numbers, and most were interested.
Daymond John offered $200,000 for 25%, while Kevin O’Leary offered $200,000 for 20% equity. Since it’s gluten-free, Lori offered $200,000 for 25% equity, which caused Kevin to reduce his offer to $200,000 for 15%.
However, Cameron soon told the sharks that they have $200,000 in debt for baking equipment. Their co-packer had 50% of the business because of this investment. This caused Robert Herjavec to go out. Mark Cuban went out too because he didn’t think there was enough reward for the risk.
In response to the other offers, Cameron said that 25% of the business was too much to give up. Kevin dropped his offer again to $200,000 for 12.5%. Daymond reduced his offer to 20% equity.
However, Cameron and Junea ended up asking Lori if she would go to 15%. She wanted to go to 16.5% and they accept. Let’s check out a Brazi Bites update to see how the company is doing now.
It’s all good news in our Brazi Bites update! Though the deal with Lori didn’t close, the company went on to become a huge staple in most grocery stores. In 2018, they sold a majority stake to an equity company in San Francisco, which allowed them to get into most grocers throughout the country. You can also find them on Amazon. Annual revenue is now reported to be about $12 million.
Brazi Bites are available on their company website, as well as in most major grocery retailers and Amazon. We can’t wait to see where our next Brazi Bites update takes us!
Curious about the other products featured in Season 7 Episode 9? Find our other company updates below.
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