$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Matthew and Sheldon Ratuski from Saskatoon, SK, pitched The Rice Stuff Box in Season 20, Episode 5, asking the Dragons for $2M for 15% of the company.
- Asked for$2M for 15%
- Valuation$13.33Mimplied by the ask
- OutcomeDealwith Arlene
- Final deal$2M for 20%valued at $10M
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Brian | No offer made; couldn't negotiate without father, who owns 100% of shares, present | Out |
| Michele Romanow | No offer made; too many decision-makers involved in the family business | Out |
| Brian | No offer made; concerned about openness to change in a family business | Out |
| Wes | No offer made; valuation too rich for $2 million investment | Out |
| Arlene | $2 million for 20% equity | Accepted |
Matt Ratuski and Sheldon Ratuski of Winnipeg, Manitoba pitched The Rice Stuff Box, an organic instant rice product from their family business Floating Leaf Fine Foods, seeking $2 million for 15% equity. The product, sold in four flavours for about $5 per pouch, is prepared by adding boiling water or microwaving, and has generated $700,000 in sales over eight months in Canada and the US. Floating Leaf Fine Foods itself is an $8 million business with 20% net profit margins, distributed through major retailers including Safeway, Sobeys, Federated Co-op, Walmart, Costco West, and Whole Foods; their father owns 100% of the shares and is not present at the pitch.
Brian, Michele Romanow and Wes declined, citing concerns about family business dynamics, decision-making without the father present, and valuation. Arlene offered $2 million for 20% equity, which the brothers accepted, noting they had approval from their father for that arrangement.
Pitch details from CBC’s Dragons’ Den pitch page.
The Rice Stuff Box today
- StatusIn businessLast checked September 2026
The Rice Stuff Box is still operating and sells through its website.