Dragons’ Den: Baked beans business wins backing

Four of the Dragons offered to invest in Masons Beans, which produces premium chilled baked beans with no added sugar and fresh ingredients.

Mason decided to accept investor Nick Jenkins’ offer of £50,000 for 20% equity in the baked beans business, after other potential investors held out for larger stakes.

‘Excited to help him’​

After the show, Jenkins said: “Ben gave by far and away the best entrepreneur performance of the season and I’m excited to help him achieve his vision.”​

Mason finally managed to seal the deal after nearly three hours of negotiations and a “hotly contested pitch”​ on the show, according to Masons Beans. 

“Our time in the den ended up as the longest session of the series and saw Deborah Meaden, Touker Suleyman, Peter Jones and Nick Jenkins all battling it out to get in on the beans action,”​ the firm said.

‘Delighted to have you on board’ ​

“We’re delighted to have you on board Nick.” ​

Meaden and Suleyman offered Mason £50,000 for 40% stakes, while Jones offered the same amount for a 35% stake. The investors gave Mason the opportunity to buy back equity later, which would reduce their stake to 25% of the business.

Mason, who used to work in advertising, started out cooking baked beans himself and now sells products at Fortnum and Masons, Selfridges and Ocado.

“Essentially we are now ready and prime for growth in the multiples,”​ he told the Dragons.

“Every day three million Brits eat baked beans. You see, we love baked beans but our tastes are changing. ​

“Tinned baked beans are in decline but yet premium chilled ready meals are absolutely booming.”​

Beans Beans,They're good for your skin,I want 20%,And then I'm in!! @nickdjenkins@MasonsBeans#DragonsDen

— James Britton (@JamesBritton84) January 24, 2016

@MasonsBeans Beans, Beans are good for your heart, the better your pitch, the more money they'll part... #dragonsden#noaddedsugar

— sherrid555 (@sherrid555) January 24, 2016

Loving this competition between the dragons - for beans #dragonsden

— Lorna Sixsmith (@IrishFarmerette) January 24, 2016

"You are an entrepreneur of the future" I'll take that from @dragonjones Ta very much! #dragonsden

— Masons Beans (@MasonsBeans) January 24, 2016