Nuts n More is a company that uses Shark Tank episode 420 to market its product and get investment from Sharks.
Fit and nutrition professionals Neil Cameron, Dennis Iannotti, and Peter Ferreira founded the fortified nut butter business in 2011 to provide themselves and their clients with a protein-rich, natural peanut butter.
The Nuts n More all-natural nut butter spreads are creamier than other nut butter, thanks to a special recipe and processing procedure that ensures the smoothest texture.
Nuts n More carries plain and chocolate peanut butter and almond butter. There are seasonal flavors as well, including pumpkin spice peanut butter.
The items are sold in over 40 places around the United States and Canada. The major distribution areas are in the Northeast, and Nuts n More will probably seek Sharks’ assistance in distribution.
What Is Nuts n More?
Nuts n More is high in protein, low in sugar, and low in fat peanut butter, making it a healthier alternative to store-bought peanut butter.
Nut ‘N More is a range of premium, healthy nut butter supplemented with protein, flax, and omega-3 fatty acids.
The peanut butter in these apples contains twice the protein of ordinary peanut butter. They are high in fiber and are sugar-free.
You can choose from flavors such as White Chocolate, Almond Butter, Cinnamon Raisin, Blueberry, Chocolate Almond, Classic Peanut Butter, Chocolate Peanut, Toffee Crunch, and Sesame Cranbutter.
The nutritional information for Nuts’ N More shows 11 grams of protein fat but only 1 gram of sugar. It also contains up to forty fewer calories than standard brands.
|Company Name||Nuts N More|
|Entrepreneur||Dennis Iannotti, Neil Cameron, and Peter Ferreira|
|Product||Protein-rich almond and butter spreads and snacks|
|Investment Asking For||$250,000 For 20% equity in Nuts N More|
|Final Deal||$250,000 For 35% equity in Nuts N More|
|Shark||Mark Cuban And Robert Herjavec|
|Episode||Season 4 Episode 18|
|Business Status||In Business|
Who Is The Founder Of Nuts n More?
The founder and CEO of Nuts’ N More is Peter Ferreira, experienced in fitness and running. He was raised in Providence, Rhode Island, where his family ran a bakery.
He eventually shifted away from the cookies and pastries he grew up eating due to his jogging regimen and fitness program.
He developed Nuts’ N More to recreate the delectable treats he enjoyed as a child but in a form that would not jeopardize his healthy diet.
His family’s bakery inspired Peter to test protein-packed recipes with peanut butter.
He not only created delectable food, as his friends and family confirmed, but it also kept them full and satisfied without containing added sugar or fat.
They simply couldn’t get enough. He launched Nuts’ N More shortly after that to extend his company’s nutritious and enjoyable product worldwide and ensure that people do not feel deprived during snack time.
Nuts n More Before Shark Tank
Neil, Peter, and Dennis are three friends from Rhode Island who founded Nuts n More, a natural peanut butter company.
They recognized the product’s sales potential in the rising health sector and began manufacturing it in Peter’s baking shop.
They instantly attracted the attention of numerous celebrities and shops who shared their enthusiasm for this unusual concept.
The company secured distribution within a year of launching, and other stores began taking note of their appeal.
However, they lacked the funds necessary to fund the purchase orders and sought an investor who could assist them in funding these orders and future expansion.
After applying, the participants were invited to participate in Shark Tank’s fourth season.
How Was The Shark Tank Pitch Of Nuts n More?
Neil, Dennis, and Peter appeared on the Shark Tank requesting an investment of $250k in exchange for a 20% stake in Nuts n More.
Their sales for the year had topped $100,000 on taping, and they needed cash for a buy order from an important distributor. The company also hopes to reduce production expenses by producing larger batches.
Daymond considers their assessment excessively presumptuous, so he leaves. Meanwhile, Barbara is unimpressed with the package’s price; she leaves.
Mr. Wonderful makes a $250K offer in exchange for 264 percent of the company; he is out. Robert offers $250K in exchange for 50%.
Mark offers $250K for 35% of the buy-in price, $75K upfront, and $175K for future purchases.
Neil, Dennis, and Peter enter the hall to discuss the situation with Mark, who invites Robert to collaborate with him.
Mark tells Robert that taking a 50% interest would lead to too many complications with Neil, Dennis, and Peter.
The three entrepreneurs return to the Shark Tank with an offer of 30%.
Robert agrees to join Mark with his 35 percent stake. Nuts n More signs a deal with Robert and Mark.
FINAL DEAL: Robert and Mark agreed to invest $250K for 35% of Nuts N More; $75K will be used to cover upfront orders, with $175K set aside for future purchase orders.
What Happened To Nuts n More After Shark Tank?
Nuts n More’s meteoric rise to $1,000,000 in sales only seven months after the episode helped the Shark Tank effect to take hold.
There were thousands of businesses that began carrying their products, including Whole Foods and GNC.
GNC has now rolled out Nuts n More to nearly 4,000 of its stores nationwide, making it the company’s top-selling health snack.
Mark was approached by the CEO of the store where he worked following a meeting.
Two years after it premiered, Nuts n More sold six million units. After aggressively expanding distribution, it is on track to sell twenty million units.
Nuts n More appeared on Shark Tank and QVC, where Mark Cuban and Dennis discussed the product’s performance since appearing on Shark Tank.
Mark made his QVC debut with this performance. They sold out of their stuff in a matter of minutes. The QVC segment also featured Toffee Crunch, another of the many peanut butter flavors added to QVC.
They expanded their product line to include high-protein spreads and launched a location in Rhode Island that they intend to franchise.
Nuts n More’s pitch instructs future entrepreneurs to enter the Tank with a reasonable valuation and ask.
It is common for entrepreneurs to request a large amount of money, creating a situation where the Sharks cannot offer a product, even if they like it, because they must pay the full amount.
Mark was able to structure a unique agreement that enabled the transaction to close even though it was difficult for any of the Sharks to agree on a fair valuation of the company at the time.
This contributed to the company’s long-term success as it grew in revenue.
Nuts n More Shark Tank Update
Season 5, Episode 515, features Nuts n More. They show off their new production facility and declare record sales in the season five update!
Nuts n More must be doing well, as they receive a second update in season six, episode 615.
They report in the update that they’ve seen “tremendous growth.” Mark meets with the three men and reveals that they have 4000 locations.
They’ve grown from $100K in sales to over $6 million in two years. They claim that they may increase their revenue to $20 million with the GNC arrangement!
Beyond the Tank episode, 208 provides an in-depth report on the business and its issues. The supplements were also available at Whole Foods Markets and Vitamin Shoppes by 2018.
The company also exceeded its sales target of $30 million for the year. They are still going strong as of January 2022, generating $6 million in annual revenue.
Is Nuts n More Still In Business?
The Nuts ‘N More founders inquire about expanding the business on Beyond the Tank with Cuban and Herjavec.
Protein Truffle Butter Bites is one of their new SKUs. A protein peanut butter bar enrobed in our all-natural milk chocolate is known as “the company’s protein peanut butter bar.”
The price is $14.99, but a temperature cold pack is added to prevent the truffles from melting in the spring and summer.