Neil Cameron, Peter Ferreira, and Dennis Iannoti created a line of protein-enhanced nut butters. Will they earn a deal on
Shark Tank Nuts ‘N More Update
- Entrepreneurs: Neil Cameron, Peter Ferreira, Dennis Iannoti
- Business: Protein peanut and almond butters
- Ask: $250,000 for 20% equity
- Result: $250,000 for 35% equity, with $75,000 upfront, and the rest as needed for future POs
- Sharks: Mark Cuban and Robert Herjavec
Nuts ‘N More founders, Neil, Peter, and Dennis brought their line of protein-enhanced nut butters to the tank. With several flavor combinations, their products are also high omegas, and fiber from added flaxseed.
Nuts 'N More Salted Caramel Peanut Butter is made from only the freshest peanuts, caramel flavors, sea salt and packed with whey protein isolate and flax for added protein and Omega 3's.
Daymond John thought that the $1.25 million valuation was nuts! Neil replied that they had sold $100,000 worth of product within the past five months. In addition, they had been approached by the largest national distributor.
When Daymond asked if an order had been placed, Neil said they could not fulfill an order of that size. Unimpressed, Daymond would be the first shark to go out. Not long after, Barbara Corcoran and Kevin O’Leary both followed out.
This left Mark Cuban and Robert Herjavec as the remaining sharks. Mark offered $250,000 for 35% equity, asking Robert Herjavec to split the deal. Mark had some contingencies however! Only $75,000 of the investment would be given upfront, with the remainder being funneled through as POs were received, until the business was able to finance its own purchase orders.
After some back and forth in the tank, Neil, Peter and Dennis accepted the deal from Mark and Robert! What happened next for the company? Keep reading our Nuts ‘N More update to find out!
We have great news to share in our Nuts ‘N More update! The company went on to partner with GNC, and the products were rolled out in over 4,000 locations nationwide. By 2018, products were launched in Whole Foods and Vitamin Shoppe. That same year, the company celebrated $30 million in lifetime sales. Products are also available on the Nuts ‘N More website, and Amazon. As of January 2023, they have estimated annual revenue of $6 million.
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!