Bantam Bagels Shark Tank Net Worth 2023
Bantam Bagels Shark Tank Net Worth
As of February 2023, Bantam Bagels is estimated to be worth around $2 million. According to the latest reports, Bantam Bagels was acquired by T. Marzetti Company for $34 million in October 2018.
Since then, the company has seen a rapid rise in popularity and is now sold in over 21,000 stores nationwide, including Starbucks.
The acquisition by T. Marzetti Company has resulted in a drop in profits for Lancaster Colony Corporation due to the cost of the purchase.
What is Bantam Bagels? Who is the founder of Bantam Bagels?
Bantam Bagels is a bakery that offers bite-sized versions of classic New York City foods, both sweet and savory.
One of their signature creations is an Everything Bagel stuffed with chopped veggie cream cheese, which puts a delightful spin on a traditional favorite.
Nick and Elyse Oleksak, a husband-and-wife team and former Wall Street traders, founded Bantam Bagels in 2013.
Their original shop was located in New York City’s West Village, and it quickly gained attention for offering a new way to enjoy bagels with cream cheese or other spreads without the calorie overload.
The idea for Bantam Bagels came to Nick in a dream about a year prior to opening the shop. After testing and perfecting their mini bagel bites in their home kitchen, the Oleksaks hit the road to raise funds and build buzz for their business.
When the shop opened in 2013, it immediately attracted media attention and was even named one of the top three bagels by the NY Daily News.
The buzz continued to grow, and Bantam Bagels made appearances on the Today Show and even Oprah’s “Favorite Things” list in 2014.
Today, Bantam Bagels offers their products through a variety of channels, including Amazon, their website (where 3 dozen frozen Bantam Bagels are priced at $35.95), QVC, and their New York City shop.
Bantam Bagels Shark Tank Pitch
Nick and Elyse Oleksak, a husband and wife partnership, appeared on Shark Tank episode 611 to pitch their business, Bantam Bagels.
Their product consisted of cream cheese-filled “little bagel bites,” and they were seeking a Shark to help with retail expansion and national distribution.
During the pitch, Nick and Elyse requested $275,000 for an 11% stake in their company, which was valued at $2.5 million. They educated the Sharks about the bagel industry and distributed samples, which the Sharks loved.
Nick also shared a tip on how to eat the bagels without squishing the cream cheese – by finding and biting the hole.
Despite generating $200,000 in sales since launching their retail business, Nick and Elyse needed funds to acquire a commercial kitchen and continue operating in the retail channel.
They also began wholesaling and disclosed that they sold on QVC. The Sharks agreed that they needed to go direct to the consumer, with Kevin offering $275,000 in exchange for 50% equity shares if they did so.
Barbara offered $275,000 in exchange for a 51% stake in the company, asserting that they would fail without her. After some negotiation, Nick and Elyse agreed to Lori’s offer of $275,000 for 25% equity shares.
Bantam Bagels was featured in Beyond the Tank episode 102, only a few months after their initial air date, and Lori Greiner’s deal was finalized.
The company has since partnered with a co-packer and rebranded as “Bagel Stuffins,” which are sold in over 9000 Starbucks locations and in Aldi shops.
In season eight, episode 810, Bantam Bagels announced that they had sold their company for $34 million to T. Marzetti Co., a division of the Lancaster Colony food group.
Nick and Elyse continue to run the business, which retains its original Manhattan location and has yearly revenue of $20 million as of January 2022.
Competitors of Bantam Bagels
The primary competitors of Bantam Bagels in the market are; Banterwear, Bantrel Co. and Rally Engineering Inc.
Net Worth of Bantam Bagels
The company valuation was $2.5 million during the pitch, after Lori Greiner investment, the company valued at $1.1 million. The company has a net worth of $34 million.
Bantam Bagels FAQs
What is Bantam Bagels?
Bantam Bagels is a frozen bagel brand, created by husband-and-wife team Nick and Elyse Oleksak. Bantam Bagels produces miniscule cream cheese filled bagel bites which are smaller than a dime. The bites are sold at retail stores such as Whole Foods Market and online at Amazon.
Who is the founder?
Bantam Bagels is owned by Elyse and Nick Oleksak.
How much were they seeking on Shark Tank?
They were seeking for $275,000 for 11% stake in their company, which would be of $2.5 million.
How much did they raise on Shark Tank?
Lori Greiner agreed to give them $275,000 for 25% equity shares of the company.
Is Bantam Bagels still in business?
As of January 2022, Bantam Bagels is still in business.
Where is Bantam Bagels located?
The firm is located in NYC.
How many retail stores does Bantam Bagels have?
As of November 2021, the company has over 9000 Starbucks locations and continues to sell online. The items were available in December 2021 and later at Aldi shops.
When did Bantam Bagels founded?
Bantam Bagels was founded in 2013.
What is a Bantam Bagel from Starbucks?
A filled Everything Bagel with chopped veggie cream cheese. A delectable spin on a classic that is certain to invigorate the taste senses.
What ingredients are contained in the Everything Bantam bagel?
Wheat Flour Enriched (Wheat Flour, Malted Barley Flour, Niacin, Reduced Iron, Thiamin Mononitrate, Riboflavin, Folic Acid), Cream Cheese (Pasteurized Milk and Cream, Salt, Carob Bean Gum, Cheese Culture), Water, Diastatic Malt Syrup, Whole Milk, Yeast, Sugar, Salt, Dehydrated Onion, Sesame Seeds, Poppy Seeds, Spices
Is the dough for Bantam Bagels frozen?
The little filled bagels and pancakes are supplied frozen and on dry ice. Once they arrive, both bagels and pancakes can be frozen for up to 18 months from the date of manufacture.
Are Bantam Bagels available at supermarkets?
Bantam Bagels, the Additional York City-based bagel bakery that began in a modest retail shop in Manhattan’s West Village, has expanded its distribution to over 8,000 new locations, including Starbucks, QVC, Fred Meyer, and several Kroger outlets.
Can Bantam Bagels be refrozen?
Keep frozen until ready to consume. Before eating, toast or reheat. Avoid refreezing thawed products. Before cooking, unwrap Bantams and place in microwave or even a microwave-safe plate.
Can you fry Bantam Bagels in the air?
Line the air fryer with parchment paper. For 8 minutes, air fried the Bantam Bagels at 400° F | 204° C. Enjoy!
Do Bantam Bagels include eggs?
Yes. Wheat Flour Enriched (Wheat Flour, Malted Barley Flour, Niacin, Reduced Iron, Thiamin Mononitrate, Riboflavin, Folic Acid), Water, Powdered Sugar, Malt Syrup, Eggs, Yeast, Salt, Ground Cinnamon, Vanilla Extract, Sodium Bicarbonate
What is the calorie content of a Bantam Bagel?
100.0 calories are included in Bantam Bagels Mini Stuffed Bagels, Everyone’s Favorite.
How long Bantam Bagels should be cooked?
Preheat oven to 400 degrees Fahrenheit. Bake Bantams for 6 minutes on a baking sheet.
How are Bantam Bagels microwaved?
Bake bantams for 6 minutes on a baking sheet. Microwave (Ovens Vary): Microwave on high for 20 seconds. Increase the time by a few seconds for each subsequent bantam. Tip for the Best Bantam Eating Experience: Before cooking in the oven or toaster oven, ensure that the entire bantam (both inside and out) is completely defrosted!
What is the net worth of Nick Oleksak?
Nick Oleksak net worth is not available.
What is the net worth of Elyse Oleksak?
Elyse Oleksak net worth is not available.