Have you been eating tomato sauce ever since you were in your mother’s womb and are bored of it? Does the hot pepper sauce burn away your taste buds? Are you looking for an alternative that gives you the flavor yet keeps your tongue intact?
Don’t you worry! You are in luck. The REGGAE REGGAE sauce is the perfect buy to satisfy your tongue’s dark desires. This sauce is flavorful to the last drop and does not pinch you with any unnecessary spices.
It is THE sauce you and your family want. Oops, did we not tell you that the sauce is handmade by the legendary Levi Roots?
The sauce and the music seem to be soothing enough but can it get the sauce out of the Dragon’s pockets?
Reggae Reggae Sauce at a Glance:
| Idea | Flavorful jerk/BBQ sauce |
| Founders | Levi Roots |
| Asked For | £50,000 For 20% |
| Accepted Deal | £50,000 For 40% |
| Dragons | Richard Farleigh & Peter Jones |
| Business status | In Business |
| Episode No. | Season 4, Episode 1 |
Index:
What is Reggae Reggae Sauce?
Reggae Reggae Sauce is a jerk barbeque sauce that is an alternative to tomato sauce and hot pepper sauce that negates the unwanted qualities of both; it is a sauce that provides multiple flavors all at once without being too spicy.
Levi told the Dragons that the recipe for the sauce belonged to his grandmother, a claim which turned out to be untrue later. The sauce’s recipe allegedly belongs to Tony Bailey who used to run a jerk chicken stall with Levi for about 15 years.
Hence, it would be safe to say the sauce is quite tasty but its origins also unfortunately are quite saucy!
Who Is The Founder Of Reggae Reggae Sauce?
Keith Valentine Graham, popularly known as Levi Roots is a British-Jamaican reggae musician, television personality, celebrity, and author who is the founder of the company Reggae Reggae Sauce.
He sold 4000 bottles of the Reggae Reggae Sauce at the Notting Hill Carnival in 2006. It was at this point, he decided to take his sauce to The Dragon’s Den. He also had a royalty agreement for sales of his sauce with a meat company at that point.
The musician has now made millions from his enterprise and has made his mark in the FMCG industry and he has also been recognized as a chef.
Did Reggae Reggae Sauce Get A Deal On Dragon’s Den?
Levi’s pitch at The Dragon’s Den kicked off with a melodious song that put a smile on the face of our ultra-serious Dragons! Levi then quickly got the Dragons through the details of his product and also revealed that he had a humongous order amounting to £16 Million from a meat company based in Yorkshire which left the Dragons in awe!
This too-good-to-be-true deal’s terms were examined by Dragon Theo Paphitis and it turned out that Levi had mistakenly added a few extra zeros at the end of the deal. This turned out to be a deal breaker for three of the Dragons. Only Richard Farleigh and Peter Jones seemed interested in this deal which they insisted on calling a ‘gamble’.
The original investment proposal put forth by Levi was £50,000 in exchange for a 20% stake in his company but Richard and Peter wanted to have their ‘gamble’ at half the price. Levi finalized this deal to give his company a head start by taking in both the Dragons.
What Happened to Reggae Reggae Sauce After Dragon’s Den?
The revenue of the company at the time of the pitch was about £4,000 per annum.
Having been sold for about fifteen years, this sales figure seemed to be pathetically below average but Levi revealed that he had been running operations from his home kitchen so that provided the logical reason for such low sales.
The company clocked revenue of more than a whopping £3 Million in the year following its Dragon’s Den appearance.
As of today, the company is estimated to be worth more than £30 Million making it one of the most successful products to have ever appeared on The Dragon’s Den. Peter Jones remains a shareholder and an active promoter of the product.
It will be more than safe to say that the ‘gamble’ of both the Dragons paid off quite well and Reggae Reggae Sauce went on to capture a sizeable market share in a space dominated by biggies like Heinz.
Product Details:
- Reggae Reggae Sauce is a jerk barbeque sauce.
- It retains the flavor of garlic, coriander, pepper, and all its constituents.
- It presents an alternative to both tomato sauce and hot pepper sauce
- It is priced the same as its alternatives.
- The product is available at and used by multinational food chains like Domino’s, Subway, etc.
- The product has gained extensive popularity and has proven itself in the market.
Competitors of Reggae Reggae Sauce:
Reggae Reggae Sauce has faced stiff completion from the very beginning from gigantic multinational companies like Heinz, Hellmann’s, Jack Daniel’s, etc.
Nonetheless, the company succeeded in making its mark in the ketchup industry due to the exposure it attained at The Dragon’s Den, the expertise of the Dragons, and the taste & quality of the sauce! The company’s revenue has been steadily growing on an annual basis.
What Is The Net Worth of Reggae Reggae Sauce?
Levi Roots came to the Den with an offer valuing the company at £125,000. His lacking knowledge as a businessman was exposed when he went on to ask for the same amount even though a 4 figure mistake in his projected sales was pointed out.
Richard Farleigh and Peter Jones made an offer to Levi valuing Reggae Reggae Sauce at £62,500 which was indeed agreed upon by Levi.
As of today, Reggae Reggae Sauce is estimated to be worth more than £30 million according to news reports.
Is Reggae Reggae Sauce Still In Business?
Reggae Reggae Sauce is available in all the supermarkets and grocery stores in the UK. The product is also available online in the UK and other regions.
The company successfully broke the monopoly of ketchup giant Heinz in the barbeque segment with the help of the Dragons and the exposure it received on the show.
The Dragons are still invested in the company and given the popularity it has gained over the years; it would be safe to say that the Reggae Reggae Sauce is here to stay!!!
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FAQs:
What is Regae Regae Sauce?
Reggae Reggae Sauce is a jerk barbeque sauce that is an alternative to tomato sauce and hot pepper sauce that negates the unwanted qualities of both; it is a sauce that provides multiple flavors all at once without being too spicy.
What's the net worth of Regae Regae Sauce?
Levi Roots came to the Den with an offer valuing the company at £125,000. His lacking knowledge as a businessman was exposed when he went on to ask for the same amount even though a 4 figure mistake in his projected sales was pointed out.