Burgundy Oak

Joel Jelinski, Zachary Hartley, Nicholas White and Torin Hofmann of Calgary, Alberta pitched Burgundy Oak, asking for $150,000 for 10% of their business. The company makes handmade home decor and furniture from repurposed red wine barrels, including a liquor cabinet and chairs, sold wholesale for $300 to $400 and retailing around $600 with a build cost of about $200. The products are sold in more than 450 stores in Canada and 100 stores in the US, made by a team of 13 employees with 4 full-time builders. Sales grew from $50,000 in 2015 to $275,000 in 2016, $875,000 in 2017, with a projection of $1.5 million for the current year and $3 million the following year; the company broke even in 2017 after reinvesting profits, and has recently signed a deal with a major whisky producer.

Arlene Dickinson, Lane Merrifield and Vincenzo Guzzo went out, with Vincenzo Guzzo saying he does not invest in furniture businesses. Manjit Minhas offered $150,000 for 15%, Jim Treliving offered the full ask of $150,000 for 10%, and Michele Romanow offered $150,000 for 5% equity plus a 10% royalty until her investment was repaid. Arlene Dickinson then rejoined with Manjit Minhas and Lane Merrifield for a joint offer of $250,000 for 15%, which the founders accepted.

Burgundy Oak appears to have closed. Its products may no longer be available.