Since the hit BBC series Dragons’ Den started in 2005, the brutal Dragons’ have turned down businesses such as Skinny Tan and Trunki which went on to make millions. So it’s a rare occasion on the show when there’s a product which peaks all of the Dragons’ interest.
But one of those rare ‘full house’ moments happened in last night’s episode (Sunday, August 18th) as instant porridge brand The Great British Porridge Company’s founders Matt Hunt and Jacqueline Barleycorn wowed with a promising pitch.
So where can you buy Matt and Jacqueline’s instant porridge now? Here’s what happened with The Great British Porridge Company after they appeared on Dragons’ Den.
Matt and Jacqueline take on the Dragons
Matt and Jacqueline are entrepreneurs from Worthing, Sussex.
The pair created the company in January 2018 after Jacqueline noticed a gap in the foodie market for a healthy instant porridge. Noting that all the big brands’ porridge was made with tonnes of sugar, Jacqueline and Matt developed a healthier version which is 100% natural, with no added sugar. Plus it’s dairy and gluten-free.
Within the first month of launching, The Great British Porridge Company were in talks with Selfridges and Harvey Nichols. And before appearing on the show they already had repeat orders coming through from eight national distributors such as Whole Foods and Fenwicks.
This niche – and clearly very popular area – in the market spiked interest from all of the Dragons. Matt and Jacqueline had offers from all five!
Dragon vs. Dragon
Matt and Jacqueline were initially asking for a £50,000 investment in return for 10% in the business.
As Matt shares his 50% stake with his wife while Jacqueline has her 50%, they were not willing to budge too far on the equity sharing front.
So with five offers of all the money, what followed was a bidding war by all the Dragons. Some partnered up with others for varying stakes in the business but eventually, it was Tej Lavani who convinced Matt and Jacqueline.
Tej offered more than they were asking with a £60k investment for 22% of the group’s equity.
Where can you buy the porridge?
It’s no surprise that the business has been a success since appearing on Dragons’ Den. They were working at such a fantastic rate already that partnering up with Tej has just seen them rocket!
Currently, you can purchase their instant porridge online through their website or on Amazon and other online retailers.
But now The Great British Porridge Company have their product in Sainsbury’s!
From August 14th, 2019, the porridge was rolled out in over 600 Sainsbury’s across the UK. They currently sell three flavours of instant porridge for just £3.99 a bag.
For all the latest updates on The Great British Porridge Co, you can follow them on Instagram here.
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