RollinGreens – Plant-based Proteins
DEAL
EPISODE SUMMARY
🕓 Air Date: May 15, 2020
Asking For:
$500,000 for 10%
Investor:
Robert Herjavec
Deal:
$500,000 for 20%
PRODUCT SUMMARY
RollinGreens specializes in creating healthier plant-based snacks, including millet tots and cauliflower wings, offering a nutrient-dense alternative for families.
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Background Story
RollinGreens, founded by Ryan O. Cunningham (Chef Ko) and Lindsey Cunningham, originated in Boulder, Colorado. Ryan, a chef, and Lindsey, the CEO, embarked on a mission to revolutionize classic snacks with a focus on health. Their journey began with a food truck where Ryan created top-selling appetizers, the millet tots, which were unique as the only non-potato whole-grain tots in the market.
The Product
RollinGreens’ flagship product is the millet tots, an underutilized ancient whole grain. They have expanded their product line to include cauliflower wings, positioned as a direct meat replacement.
The products are not lab-made but crafted by a real chef, making them food truck favorites for the health-conscious generation. With a commitment to clean, tasty food, the tots are available in various flavors, such as OG original and Italian herb, retailing at $4.99. The cauliflower wings are priced at $6.99 and have gained popularity.
How It Went
The company’s position before Shark Tank
RollinGreens showcased impressive growth, reporting $320,000 in sales the previous year and projecting $700,000 for the current year. Major retailers, including Kroger, have become partners, and the recent launch of Super Targets nationwide indicates significant market penetration. Despite experiencing losses in previous years, RollinGreens is in high-growth mode, aiming to raise $2 million for continued expansion into shelf-stable and refrigerated products.
The Negotiations:
During the Shark Tank pitch, Robert Herjavec offered $500,000 for a 20% equity stake, which was accepted by RollinGreens. The founders shared their plans for utilizing the funds to support retail growth and diversify their product line into shelf-stable and refrigerated items. While some sharks expressed concerns about the business model and potential challenges, the deal with Robert Herjavec was enthusiastically accepted, marking a successful partnership.
