Matty’s Seafood Brands

Matt Dean Pettit and Chris MacNeil of Toronto, ON asked for $150,000 for 15 per cent of Matty's Seafood Brands, a packaged seafood line including lobster bisque, east coast chowder and a pre-packaged lobster roll sold in Ontario grocery stores including Sobeys, retailing for about $10 each. The two best-selling SKUs, the chowder and bisque, generated $75,000 in retail sales in under six months on a 21 per cent profit margin, with $10,000 used to start the brand. Pettit, also a restaurant owner with a Food Network show and a national bestselling cookbook, said he was splitting his time roughly 60-40 in favour of the packaged food business.

The Dragons raised concerns about the valuation relative to sales, thin margins, and Pettit's limited packaged-food experience and divided attention. Joe Mimran, Michael Wekerle, Manjit Minhas, Michele Romanow and Jim Treliving all declined to invest, and no deal was made.

Matty’s Seafood Brands appears to have closed. Its products may no longer be available.