Original Jerky loses funding from Dragon's Den
Jerky, which is marinated and dried is basically lean meat trimmed of fats. It is common in the US, Australia, New Zealand and even the UK. Texas-Joe's sells beef jerky in 50 gram packs. The Original Jerky company offers beef snacks, slow smoked meats and even T-shirts. Its founder, Joe Walters, recently won an investment for the business.
The deal that was called off
Jerky can be made from different types of meat from beef and bison to pork and mutton. It is rich in protein and when dehydrated, the protein count is twice as much. Jerky is also rich in calories, but is also high in sugar and sodium content.
In the UK, the Original Jerky company started selling the meat snack. Texas-Joe's which is headed by “Texas Joe” Walters joined Dragon’s Den, a reality TV show for entrepreneurs who wish to attract funding from investors. Joe won £50,000 for his jerky business. In the beginning, there were offers from investors like Deborah Meaden and Kelly Hoppen. Although Joe only needed £37,000 for his business, it was tycoon Peter Jones who stepped in and made the £50,000 offer with a 24% stake in the company.
Alas, the deal seemed to have completely flown out of the window. Joe received a call from one of Peter’s aides and the deal is now off the table. He met several times with Peter’s people, but for unknown reasons, three days before the deal was to be finalised, it was cancelled. Joe is devastated with the outcome and said, “I was dismissed on a conference call that Peter Jones wasn’t part of. They pulled out.”
The Original Jerky company founder seems unfazed by this major setback. He recently secured a deal from Sainsbury's to sell Texas-Joe's beef jerky. He plans to make and sell his own barbecue sauces and root beers in the future. Joe also operates the BBQ Joint serving Texas style meats (pork shoulder, beef brisket, beef short ribs) along with yummy sandwiches, snacks and puddings.