Highlights
- Neil Cameron, Dennis Iannotti, and Peter Ferreira pitch Nuts n More, their line of fortified nut butters, seeking $250,000 for 20% equity on Shark Tank.
- After intense negotiations, the entrepreneurs secure a deal with Mark Cuban and Robert Herjavec for $250,000 in exchange for 35% equity.
- By June 2024, Nuts n More has achieved over $60 million in lifetime sales and generates $6-$7 million in annual revenue, with products available in over 1800 GNC stores and online.
Overview
| Category | Details |
|---|---|
| Name | Nuts n More |
| Founders | Neil Cameron, Dennis Iannotti, Peter Ferreira |
| Industry | Health and Nutrition |
| Product | Fortified nut butters made from all-natural ingredients, offering high protein content |
| Funding | Seeking $250,000 |
| Investment Ask | $250,000 |
| Equity Offered | 20% |
| Valuation | $1.25 million |
Nuts n More is an all natural, fortified, nut butter business that spreads its message in Shark Tank episode 420. Entrepreneurs Neil Cameron, Dennis Iannotti, and Peter Ferreira are fitness and nutrition experts that created the fortified nut butter business in 2011 in order to provide themselves and their fitness clients with a protein-rich, natural peanut butter. The Nuts n More nut butter spreads are creamier than other all natural nut butters due to a unique recipe and a process that assures the finest grind and smoothest texture. Nuts n More features peanut butter and almond butters in plain and chocolate varieties. They also offer seasonal flavors like pumpkin spice peanut butter. The products are available in over 40 locations nationwide and in Canada. The primary distribution areas are in the Northeast; Nuts n More is undoubtedly looking to the Sharks for help with distribution.
Nuts n More Shark Tank Recap
Neil, Dennis, and Peter came into the Shark Tank seeking $250k for a 20% share of their business. As of the date of taping, they have $100K in sales for the year and a purchase order from a large distributor they need cash to fulfill. They’re hoping to cut their production costs by making larger batches too. Daymond thinks their valuation is too assumptive, he’s out. Barbara likes the packaging, but she can’t stomach the valuation either; she’s out. Mr. Wonderful offers $250K for 264% of the company; he’s out. Robert offers $250K for 50%. Mark offers $250K for 35% with $75K up front and $175K to fund future purchase orders.
Mark asks Robert to team up with him and Neil, Dennis, and Peter step into the hall to discuss things. While there, Mark tells Robert taking a 50% stake would cause too many problems amongst Neil, Dennis and Peter. When the three entrepreneurs step back into the Shark Tank, they counter with 30%. Mark holds firm at 35% and Robert agrees to go in with him. Nuts n More makes a deal with Robert and Mark!
FINAL DEAL: Robert and Mark offer $250K for 35%; $75K will fund upfront orders with $175K in reserve for funding future PO’s.
Nuts n More Shark Tank Updates
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Nuts n More is featured in an update segment in episode 515 in season 5.
In the season five update, the guys show off their new production facility and announce record sales! Things must be going well for Nuts n More, they have a second update in episode 615 in season six.
In the update, they say they’ve seen a “tremendous amount of growth.” The three men meet with Mark at GNC HQ and they announce they’ll be in 4000 stores. They’ve gone from $100K in sales to over $6 million in two years. They say with the GNC deal they can go to $20 Million!
In Beyond the Tank episode 208, a detailed update on the business and its challenges is provided. Read about it HERE.
By 2018, they were in Vitamin Shoppes and Whole Foods too. They reached their $30 million in lifetime sales goal in 2018 too. As of July, 2021, they are going strong with $6 million in annual revenue. They moved into a massive new production facility in Rhode Island and churn out over 30,000 jars of nut butters per day.
In June, 2021, the company partnered with The Dirty Cookie, another Shark Tank contestant, to provide fillers for their cookies. As of June, 2024, they can be found in over 1800 GNC stores nationwide as well as on their website and Amazon. Lifetime sales at this time are over $60 million with annual revenue coming in at $6-$7 million per year.
Posts about Nuts n More on Shark Tank Blog
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