Dragons Den star secures 7 figure deal – business set to turn over £1m

Dragons' Den: Entrepreneur started his business with £17k

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Just after four years pitching to the Dragons, the Scottish entrepreneur is on track to make his first £1million. Andy Murray entered the Den seeking £50,000 investment in exchange for 15 percent equity in his business, The Drinks Bakery.

The Drinks Bakery create savoury biscuits that are flavour profiled so they compliment great drinks.

Mr Murray explained The Drinks Bakery was available in beer bars, wine bars, delis and bottle shops, however he wanted to make them more accessible.

After appearing on the Den, The Drinks Bakery secured a seven-figure listing deal with Waitrose.

It will see the company’s range of premium savoury snacks stocked in 230 stores across the UK and online.

The deal will more than double the size of the Scottish company and it will enable further expansion, with Waitrose joining a list of 250+ stockists from independent delis to outlets such as Selfridges, Liberty of London and Claridge’s Hotel.

The company also sells across Europe, Canada, the US and UAE.

Established in 2016, The Drinks Bakery offers four flavours of savoury biscuits which are flavour-profiled to match different drinks from around the world.

Dragons’ Den investors Deborah Meaden and Peter Jones both got a 10 percent share of the business after joining offers.

Mr Murray was willing to lose more equity than he had hoped as he was getting the advice of two Dragons.

He said: “The obvious dragons for me were either Deborah Meaden who is well renowned as a premium foodie or Peter Jones.

“I was looking for a £50,000 investment understanding that the business is still very young and access to the scale of support that the Dragons’ can provide is the life-blood of any brand.

“The investment of cash was secondary, but it allows me to think bigger and go after some larger accounts like Sainsbury’s.”

The Drinks Bakery eventually secured a deal with Sainsbury’s.

Its range – which includes Parmesan, toasted pin nuts & basil and chilli and almond flavoured savoury snacks – will be stocked in 235 of the supermarket giant’s stores.

“I am delighted with the support from Sainsbury’s.”

Peter Jones said: “The Drinks Bakery is one of the best brands I’ve ever seen in the Den and Waitrose is a perfect match.”

Deborah Meaden said: “I always knew that Andy’s passion and vision would attract the best retailers.”

Waitrose buyer Michelle Slade said: “We are very excited to be partnering with The Drinks Bakery to offer our customers the eye-catching full range of drinks-paired snacks Andy has created.”

Andy Murray told The Edinburgh Reporter: “I keep having to pinch myself that this is all really happening, it’s going to be fantastic to see our Drinks Bakery range on the Waitrose shelves and online.

“We’ve been working hard to grow the brand over the last few years and this news is a massive step-change for the business.

“I’m a lifelong foodie and growing up my mum would make her own savoury snacks to pair with the aperitifs she and dad would enjoy. My vision in founding this company was to raise the bar on the common savoury snack and create thoughtful and delicious snacks to match and complement different drinks, from wine and whisky to gin and craft beer, to mention just a few.”

The Scottish business is on track for its first £1 million turnover this year after landing a seven-figure contract with Waitrose, a deal with a major airline, and significant expansion in the US and UAE. It has hailed its latest milestone as breaking into the United Arab Emirates with a contract with Spinneys for a range of snacks for alcohol-free drinks.

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