CheeCha Puffs

Elaine Cadrin, along with her children Mike and Tracey Cadrin, from Calgary, AB, asked for $400,000 for 20% of CheeCha Puffs, a fat-free puffed potato chip snack inspired by the Mexican cheecharone, sold in 12 flavours including gluten-free options. The chips are made using a hot air popping process, sold in 1,500 locations across Canada including Walmart, Sobeys and Safeway, with a bag retailing for about $3.25. Sales were $1.76 million, then $1.85 million, then just under $1.91 million over three years, with profit as high as $300,000 in a year, and the founders said the business had plateaued and needed help to grow further, including into the US.

Joe Mimran went out, citing heavy competition in the snack category from large companies. Michael Wekerle initially offered $400,000 for 20% on his own. Manjit Minhas offered $400,000 for 25%, wanting more equity for the marketing work involved, but was declined. Jim Treliving made no offer. Michele Romanow offered to partner with Michael Wekerle at the founders' original ask of $400,000 for 20%, and the founders accepted the joint offer from Michael Wekerle and Michele Romanow.

CheeCha Puffs is still operating and sells through its website.