Healthy Berries

Tom Margeson of Montague, PEI, president and CEO of Healthy Berries Ltd., asked for $225,000 for 12.5% equity in his Superfruit Purée line, made using a licensed Ukrainian TEKMASH process that preserves wild blueberries and other berries with no additives, preservatives or chemicals and a two-year shelf life. The purée retails for $10 a bottle, with over 850 wild blueberries per bottle; the company is also launching single-serve solo packages, which have already been listed by Sobeys and Loblaws in Atlantic Canada, with Sobeys planning a national listing, and a new deal with Freshii worth a committed half a million dollars this year. Last year the company did just under $400,000 in sales (up from $250,000 the year before) but lost $680,000, with breakeven at $1 million; Tom Margeson inherited the company after founder Peter Kohler, who had invested heavily, passed away and left it to him in his will.

Robert Herjavec, Wes Hall, Vincenzo Guzzo, and Michele Romanow all went out, citing concerns about the confused go-to-market strategy and lack of a clear path to profitability. Manjit Minhas offered $225,000 for 20%, which Tom Margeson accepted.

Healthy Berries is still operating and sells through its website.