$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Cody New & Rick Sauder from Kamloops, BC, pitched MULTY Rack in Season 18, Episode 12, asking the Dragons for $500K for 10% of the company.
- Asked for$500K for 10%
- Valuation$5Mimplied by the ask
- OutcomeDealwith Arlene Dickinson and Michele Romanow
- Final deal$500Kplus a royalty: 10% royalty dropping to 5% after capital is repaid
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Wes Hall | Valuation too high given lack of proprietary product, no offer | Out |
| Vincenzo Guzzo | Product easily copied, nothing proprietary, no offer | Out |
| Manjit Minhas | Nothing unique and not worth $5 million, no offer | Out |
| Michele Romanow | $500,000 for 25% plus a 5% royalty until capital repaid | Withdrawn |
| Arlene Dickinson | $500,000 for a 7% royalty until capital repaid, then 4% ongoing, no equity | Withdrawn |
| Arlene Dickinson and Michele Romanow | $500,000 for a 10% royalty dropping to 5% after capital repaid, no equity | Accepted |
Rick and Cody, from Kamloops, BC, asked for $500,000 for 10% of MULTY Rack, a manufacturer of modular and universal truck accessories including a bike rack, headache rack, and UTV rack system, all designed and manufactured in Canada. The UTV rack sells for $5,000 at a 38% margin, and the bike rack retails for $780 at just over 50% margin. Sales were $1.2 million last year, with 25% direct to consumer and 75% through distribution including Canadian Tire and Keystone Automotive, which sells to 4,000 stores in the US. The company is not yet profitable, with founders projecting profitability by year three, and sought the investment for marketing.
Wes Hall, Vincenzo Guzzo, and Manjit Minhas went out over concerns about the lack of proprietary technology and a valuation they felt was too high. Michele Romanow offered $500,000 for 25% plus a 5% royalty until her investment was repaid, while Arlene Dickinson offered $500,000 for a 7% royalty with no equity, dropping to 4% after repayment. The two Dragons then joined forces, and the founders accepted a joint offer of $500,000 for a 10% royalty dropping to 5% after capital was repaid, with no equity given up.
Pitch details from CBC’s Dragons’ Den pitch page.
MULTY Rack today
- StatusStatus unknownLast checked September 2026
We haven’t confirmed whether MULTY Rack is still operating.