Next up is Alfonso Tejada of OA Foods, seeking $300,000 for 10 percent equity.

Key Takeaways: OA Foods on Shark Tank

  • Founder Alfonso Tejada pitched OA Foods, offering healthier pasta alternatives made from hearts of palm.
  • OA Foods asked for $300,000 for 10% equity.
  • Lori Greiner and Mark Cuban offered $300,000 for 25% equity, which Tejada accepted.
  • The Sharks were impressed by the product’s taste, despite competition concerns.
  • OA Foods sells gluten-free, non-GMO, and low-calorie alternatives to traditional pasta.

The Story Behind OA Foods

OA Foods puts a healthier twist on pasta.

According to their website, the brand’s Palmini “is a pasta substitute made 100% out of a natural plant known as Hearts of Palm. When this plant is cut and cooked in the proper way, it’s resemblance to regular pasta is remarkable.” The vegetable pasta is gluten-free, non-GMO and low in calories. A can of their linguine costs $4.49.

Their other foods include chia and quinoa.

The sharks give it a try and Lori Greiner says it’s “really good.”

Robert Herjavec doesn’t think it tastes like pasta, but Greiner is impressed with how the Hearts of Palm vegetable is being used. In three months, he sold approximately 2,000 units of Palmini.

Guest shark Bethenny Frankel likes his passion but is worried about the competition. She goes out, followed by Daymond John over the valuation. Herjavec goes out as well. Greiner and Mark Cuban then jump in with an offer of $300,000 for 30 percent.

Tejada counters 18 percent, which they decline. He counteroffers again at 20 percent, which is brought up to 25 percent by Greiner. He accepts.

Social Media Reacts to OA Foods’ Appearance on “Shark Tank”

Closing Thoughts

OA Foods has grown substantially since its Shark Tank appearance.

Palmini, their pasta substitute, is now available in major retailers like Walmart, Whole Foods, and Amazon. They have expanded their product line to include hearts of palm rice and are capitalizing on the healthy eating trend, making their products more accessible across the U.S.

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks:

  • Mark Cuban, owner of the Dallas Mavericks;
  • Daymond John, fashion mogul and founder of FUBU;
  • Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group;
  • Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC;
  • Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.

Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.

“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.

Would you try OA Foods? Sound off in the comments section below!

Read more: