What Happened To Nuts 'N More After Shark Tank?
Nuts 'N More has seen some success selling a variety of nut butter products. But was that success in part due to the brand's appearance on an episode of the television show "Shark Tank?" It's been years since the company's founders appeared on the show.
Earn The Necklace notes that founding trio Dennis Iannotti, Neil Cameron, and Peter Ferreira sought $250,000 for a 20% share of their nut butter business during the 4th season of "Shark Tank" in 2013. After some discourse with the celebrity investor panel, Mark Cuban and Robert Herjavec both invested in the company. Cuban and Herjavec committed to the full amount the founders sought but got a 35% stake in the company. While Nuts 'N More might not be listed among the best foods we've seen on "Shark Tank," the growth of the business since the show first aired has probably made both Cuban and Herjavec nutty about their decision to invest.
Nuts 'N More started to soar
Nuts 'N More CEO Peter Ferreira shares that after the company got the investment from Mark Cuban and Robert Herjavec, the infusion of cash and expertise "helped us expand quickly and successfully." The Gazette Review notes that within the first seven months after the show aired, the company recorded a million dollars in sales. By 2015, annual sales for the company cleared $6 million.
Earn The Necklace explains that a mix of distribution channels led to that explosion in business. That included space on shelves at retailers like GNC and Whole Foods, plus online sales platforms like Amazon. Even popular television shopping network QVC helped introduce customers to the healthy nut butter products. Their inclusion of ingredients like flax, which can have several positive impacts on the body when you eat it every day, adds extra protein according to the brand's official website.
The Nuts 'N More story isn't just one of a short-lived, astronomical rise, though. The company has seen sustained success.
The story gets even 'butter'
Shark Tank Blog fills in more of the rest of the story for this producer of nut butters, which are more nutritious than you might have thought. According to the blog, Nuts 'N More hit their lifetime sales goal of $30 million by 2018 and through July of 2021 were averaging over $6 million in revenue each year, far exceeding the $1.25 million valuation the company's founders gave themselves in 2013 on "Shark Tank."
In addition to the nut butters, Nuts 'N More has also increased sales by offering powders and snack packs. Nuts 'N More still has room for growth, however, as Future Market Insights estimates the global demand for nut butter will be worth $1.1 billion by the end of 2022. While Nuts 'N More might have achieved some of this success on its own even if it hadn't gotten an investment on "Shark Tank" in 2013, there's little doubt that the speed of the company's growth is due to the tremendous connections and business expertise of the Sharks.