Pure Infused Maple Syrup

Leanne Dobrota and Chris & Anna Hutchison
Lake Paul, NS

The pitch

Leanne Dobrota and Chris & Anna Hutchison from Lake Paul, NS, pitched Pure Infused Maple Syrup in Season 11, Episode 15, asking the Dragons for $225K for 20% of the company.

Asked for$225K for 20%
Valuation$1.13Mimplied by the ask
OutcomeDealwith Jim Treliving
Final deal$225K for 30%valued at $750K

Offers in the Den

Dragon	Offer	Result
Michael Wekerle	Not able to help with distribution and marketing in this sector	Out
Michele Romanow	Not confident about return given lack of profitability	Out
Joe Mimran	Likes the product but not making money	Out
Manjit Minhas	Concerned strategy of spending on in-store promotions would not yield a return	Out
Jim Treliving	$225,000 for 20% with an 8% royalty until repaid, then keep 20%	Withdrawn
Jim Treliving	$225,000 for 30% equity with a 50% say in the company	Accepted

Anna Hutchinson, Chris Hutchinson, and Leanne Dobrota of Lake Paul, NS asked for $225,000 for 20% of Pure Infused Maple Syrup, a line of flavour-infused maple syrups sold alongside their regular maple syrup line in specialty and grocery stores across the country, with single bottles retailing for $12 to $15. Last year the company did $400,000 in sales, with $100,000 from regular maple syrup and $300,000 from the Pure infused line, and they were forecasting $750,000 in sales for the coming year; the company showed a loss on the books last year due to an inventory adjustment tied to their fiscal year-end. They operate about 400 miles of piping through the woods and wanted the investment for in-store marketing initiatives such as shelf talkers, recipe pads, and coupon pads with retailers they already had purchase orders from.

Michael Wekerle, Michele Romanow, Joe Mimran, and Manjit Minhas all went out, citing lack of profitability and doubts about the marketing strategy. Jim Treliving first offered $225,000 for 20% with an 8% royalty until repaid, then withdrew that and instead offered $225,000 for 30% equity with a 50% say in the company, which the founders accepted.

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