Burwood Distilleries

Marko Cilic, Jordan Ramey
Calgary, AB

The pitch

Marko Cilic, Jordan Ramey from Calgary, AB, pitched Burwood Distilleries in Season 15, Episode 9, asking the Dragons for $575K for 10% of the company.

Asked for$575K for 10%
Valuation$5.75Mimplied by the ask
OutcomeDealwith Manjit Minhas
Final deal$1M for 20%valued at $5M

Offers in the Den

Dragon	Offer	Result
Jim Treliving	Believes they need more than $575,000 and more expertise on the panel than he can provide; no offer	Out
Michele Romanow	Did not like the product or aftertaste; no offer	Out
Arlene Dickinson	$1,000,000 for 26%	Declined
Manjit Minhas	$575,000 for 10%, later countered to $1,000,000 for 20%	Accepted
Vincenzo Guzzo	Did not want to be part of a bidding war between distillers; no offer	Out

Marko Cilic and Jordan Ramey, from Calgary, AB, asked for $575,000 for 10% of Burwood Distillery, a company producing honey-based spirits, including a lightly sweetened honey liqueur called Medica and a single-hive spirit distilled similarly to single-malt whisky. The company projected revenue of $1.4 million for the year, with $1.8 million in aged spirit inventory awaiting release, and sales currently concentrated in retail liquor stores in the greater Calgary Metro area. The founders said they needed capital for expanded storage and for sales and marketing to grow beyond direct hand-selling.

Jim Treliving went out, saying the business would need more than $575,000 and more expertise than he could offer. Michele Romanow went out due to not liking the product's taste. Arlene Dickinson offered $1,000,000 for 26%. Manjit Minhas offered $575,000 for 10%, and Vincenzo Guzzo went out, not wanting to be part of a bidding war. After a phone call with a third partner, Marko Cilic countered Manjit Minhas's offer, and the founders ultimately accepted $1,000,000 for 20% from Manjit Minhas.

Pitch details from CBC’s Dragons’ Den pitch page.