$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Matthew White from Sussex, NB, pitched Sussex Beard Oil in Season 10, Episode 5, asking the Dragons for $65K for 25% of the company.
- Asked for$65K for 25%
- Valuation$260Kimplied by the ask
- OutcomeDealwith Michael Wekerle and Michele Romanow
- Final deal$65K for 30%valued at $217Kplus a royalty: 5% royalty on sales for five years
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Jim Treliving | Went out, avoiding hair/barber-related products | Out |
| Joe Mimran | Went out, too small for him | Out |
| Manjit Minhas | Went out, market too niche | Out |
| Michele Romanow | initially out, then rejoined with Michael Wekerle for 65,000 for 30% plus royalty | Accepted |
| Michael Wekerle | 65,000 for 25% plus 5% royalty on sales for five years, later increased to 30% with Michele Romanow joining | Accepted |
Matthew White, from Sussex, New Brunswick, asked for $65,000 for 25 per cent of his company, which makes and sells all-natural men's grooming and beard products including beard oil, beard soap, moustache wax and an overnight conditioner. The beard oil retails for $22.95 with a manufacturing cost of about $5.40, giving roughly 76 per cent margins. The company had made $30,000 in sales over 16 months, mostly through its website, with a net margin of about 8.6 per cent.
Jim Treliving, Joe Mimran and Manjit Minhas went out, citing the niche market and small scale of the business. Michael Wekerle offered $65,000 for 25 per cent plus a 5 per cent royalty on sales for five years, citing potential uses beyond beards such as tattoo skin care. Michele Romanow, who had initially gone out, rejoined after suggesting a packaging change to cut shipping costs, and the two Dragons partnered for $65,000 for 30 per cent plus the royalty, which Matthew White accepted.
Pitch details from CBC’s Dragons’ Den pitch page.
Sussex Beard Oil today
- StatusOut of businessLast checked September 2026
Sussex Beard Oil appears to have closed. Its products may no longer be available.