What Happened to Lord Nut Levington after the Shark Tank Pitch? Lord Nut Levington Shark Tank Update
What was Lord Nut Levington?
Lord Nut Levington is a brand of tasty seasoned peanuts available in six flavors: Rebel Mary, El Cheddarales, Mama Mia, Thai Dyed, Wingman, and Sweet Miss Keet. Each flavor has a unique story behind it.
For instance, the popular Rebel Mary flavor, which is Bloody Mary-flavored peanuts, tells the tale of an unreciprocated love between a barmaid and Lord Nut Levington.
Each can of Lord Nut Levington peanuts costs around $5 and can be found on Amazon, Wegmans, Wal Mart, and at around 1,000 Central Market, Kroger, and Whole Foods Market locations.
Who was the Founder of Lord Nut Levington?
Lord Nut Levington is the creation of Sanjiv Patel, an MBA graduate from Babson College. Sanjiv, a native of England who grew up in a business family, came to Babson to get his MBA after working as an accountant for a few years.
After graduation, he was appointed as the CFO of Stacy’s Pita Chips, where he helped increase the company’s revenue from $2 million to $60 million in four years.
The company was later sold to Frito Lay, and Patel decided to launch his own brand, Lord Nut Levington Gourmet Peanuts, which offers a wide range of highly seasoned nuts in different flavors such as zesty chili lime, white cheddar & jalapeño, and dill pickle ranch.
What Happened to Lord Nut Levington at the Shark Tank Pitch?
On Shark Tank Season 5 Episode 23, Sanjiv, the creator of Lord Nut Levington Gourmet Peanuts, sought an investment of $500,000 in exchange for 30% ownership of the company, valuing it at $1.6 million. Kevin O’Leary questioned the valuation of the company and asked about sales and distribution.
Sanjiv explained that he started the brand in April 2011 and in the month preceding the episode, they generated over $700,000 in sales, equivalent to 300,000 cans of peanuts. Last year’s sales were $300,000, which Robert Herjavec pointed out was a flat number.
Sanjiv explained that when they first started Lord Nut Levington’s Peanuts, they worked with large merchants and discount stores, resulting in smaller profit margins compared to now. He estimated that they will end the year with around $350,000 in sales but no profit. Despite making sales to stores like Wegmans, and having reorders, he did not expect to make a profit in the next 12 months.
Sanjiv had invested $1.1 million in the company himself. Kevin O’Leary expressed that he did not believe a small entrepreneur could succeed in the highly competitive food industry and decided to not invest.
Barbara Corcoran disagreed with Kevin O’Leary about the potential of Lord Nut Levington but believed that Sanjiv was not passionate enough about it, so she decided not to invest.
Lori Greiner could not even taste the product as it upset her stomach, so she also decided not to invest. Robert Herjavec liked the disruptive technology and concept, but he was not convinced by the growth strategy, so he also opted not to invest.
Mark Cuban was interested in the sales velocity and asked Sanjiv to explain it, but Sanjiv’s response did not convince Mark and he too decided not to invest. As a result, Sanjiv left the Tank without a deal with any of the Sharks.
What Happened to Lord Nut Levington after the Shark Tank Pitch?
Despite not getting a deal on Shark Tank, Sanjiv continued to sell his Lord Nut Levington Gourmet Peanuts on his website, Amazon, and in various retail stores across the United States.
The company’s social media accounts were active and up to date. Despite the Sharks’ skepticism, it appears that the company was successful and profitable.
At one point, the nuts could be found at around 2000 retailers, including Stop & Shop and Target. However, after more than 10 years in operation, Sanjiv decided to close the company in May 2018
. As of August 2021, he is the CEO of Hail Merry, a plant-based snack food company.
What is net worth of Lord Nut Levington?
Sanjiv Patel appeared on Shark Tank in search of $500,000 in exchange for 30% ownership of the Lord Nut Levington Company. This translates to a $1.6 million valuation.
Who are the Competitors of Lord Nut Levington?
There are no competitors identified for Lord Nut Levington.
Lord Nut Levington FAQS
What was Lord Nut Levington?
Lord Nut Levington is a brand of seasoned peanuts. Rebel Mary, El Cheddarales, Mama Mia, Thai Dyed, Wingman and Sweet Miss Keet are the six flavours of Lord Nut Levington.
Who founded Lord Nut Levington?
Lord Nut Levington is the brainchild of Sanjiv Patel. Sanjiv Patel, a native of England, grew up in a business family and came to Babson to get his MBA after working as an accountant for a few years.
How much was he seeking in the Shark Tank?
Lord Nut Levington sought $500,000 for 30% ownership of the company. This translates to a $1.6 million valuation.
Did he get a deal from the Shark?
Lord Nut Levington failed to get any investment from Sharks.
What happened to Lord Nut Levington after the Shark Tank?
At its heyday, Lord Nut was offered in about 2,000 locations, including Target and Stop & Shop. Patel closed the Company and now works as a consultant.
What’s the website for Lord Nut Levington?
They are no longer in business.
Who exactly is Sanjiv Patel?
Sanjiv Patel, a Babson College graduate, is an accountant by trade who got his start in the consumer foods industry by assisting Stacy’s Pita Chips in growing from $2 million to $60 million in annual sales.
Where was Lord Nut Levington located?
Lord Nut Levington is located in Dallas, Texas.
What were the ingredients of Lord Nut Levington?
Lord Nut Levington contained Roasted Peanuts, Seasoning (Salt, Spices, Sunflower Oil, Sugar, Onion Powder, Natural Flavour, Garlic Powder, Gum Arabic, Buttermilk Powder, Autolyzed Yeast Extract, Citric Acid, Dehydrated Parsley, Silicon Dioxide, Maltodextrin, Tapioca Dextrin, Disodium Phosphate), and Canola Oil.
What is the net worth of Sanjiv Patel?
Sanjiv Patel’s net worth is unavailable.
Where is Sanjiv Patel now?
He is the CEO of Hail Merry, a plant-based snack food company, as of August 2021.
