Mark Cuban loves pierogi but won't invest due to health concerns
- Sisters Casey and Vanessa White launched Jaju Pierogi in 2016, inspired by their grandfather's recipes.
- Their products are sold in over 2,500 grocery stores and projected $2.7 million in annual sales.
- Mark Cuban praised their product but declined to invest due to health concerns and personal eating habits.
Jaju Pierogi, a company founded by sisters Casey and Vanessa White, appeared on ABC's 'Shark Tank' to pitch their pre-boiled, flash-frozen Polish dumplings. They launched their business in 2016, inspired by their grandfather's handwritten recipe book from 1960. The sisters showcased their product to the Sharks, including Mark Cuban, who praised the pierogis and enjoyed their taste. However, Cuban refrained from making an investment offer, citing his struggle to maintain a healthier lifestyle and his inability to stop eating the delicious dumplings as key reasons for his decision. During their presentation, the sisters revealed that their products were sold in over 2,500 grocery stores, including Whole Foods, Sprouts, and Harris Teeter. They projected their company would finish another year with approximately $2.7 million in annual sales. However, the sisters admitted to facing financial challenges, such as slim profit margins, which hampered their business growth. Each bag of pierogis costs $3.89 to manufacture, $6.33 to distribute, and sells for around $10, leaving little wiggle room for profit. On the show, Kevin O'Leary expressed a willingness to invest in Jaju Pierogi, offering $300,000 for a 20% equity stake, contingent upon the sisters agreeing to collaborate with his manufacturing company. In contrast, Lori Greiner declined to make an offer, stating she was not the right fit for the product. Daniel Lubetzky also passed, as he had already invested in a competing company, Toast-It, which sells frozen arepas and is also owned by a sister duo. Ultimately, the sisters countered O'Leary's offer with a request for $300,000 for 10% equity in the company, but the deal did not materialize. They remain optimistic that one of the Sharks may reconsider and get back to them regarding a potential investment opportunity in the future. The sisters' experience on 'Shark Tank' highlighted the challenges and opportunities faced by small food brands in the competitive grocery market.