Station Cold Brew Coffee

Steve Ballantyne, Mitchell Stern & Mike Roy
Toronto, ON

The pitch

Steve Ballantyne, Mitchell Stern & Mike Roy from Toronto, ON, pitched Station Cold Brew Coffee in Season 12, Episode 1, asking the Dragons for $250K for 20% of the company.

Asked for$250K for 20%
Valuation$1.25Mimplied by the ask
OutcomeDealwith Arlene Dickinson
Final deal$250K for 20%valued at $1.25M

Offers in the Den

Dragon	Offer	Result
Michele Romanow	Not the food expert, wants to see what Arlene and Manjit do	Out
Joe Mimran	Would invest with Manjit or Arlene as distribution experts	Out
Arlene Dickinson	$250,000 for 20%, plus access to another $250,000 line of credit, no other partners	Accepted
Jim Treliving	Deferred to Manjit	Out
Manjit Minhas	$250,000 for 20% jointly with Joe and Michele	Declined

Steve Ballantyne, Mitchell Stern and Mike Roy of Toronto, ON asked for $250,000 for 20% of Station Cold Brew Coffee, a company producing cold brew coffee steeped for 18 hours using beer-style brewing technology. The product is sold in cans and bottles retailing for $3.99, as well as on tap in offices and food service locations, and the company also private labels cold brew for Balzac's. The founders reported over $500,000 in total sales, with 70% of that in the last 12 months, and projected $1 million in sales this year; they have invested $190,000 of their own money and have debt financing with BDC, but are not yet profitable.

Joe Mimran and Michele Romanow went out, deferring to the beverage experts on the panel. Manjit Minhas offered $250,000 for 20% jointly with Joe and Michele, citing manufacturing expertise. Arlene Dickinson offered the full $250,000 for 20% on her own plus access to an additional $250,000 line of credit, arguing against bringing in outside manufacturing equipment not built for coffee. The founders accepted Arlene Dickinson's offer.

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