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Kevin O'Leary threatened to pull out of $250K deal after founders made one blunder on 'Shark Tank'

Kevin O'Leary lost his temper over a yogurt deal but the founders still ended up bagging a $250K deal

Michael Akindele and Ehime Eigbe turned their humble kitchen recipe into a multi-million-dollar business. The married Nigerian couple introduced their brand 'Sweetkiwi', a flavored frozen whipped Greek yogurt, on 'Shark Tank' in 2023. They proposed a $250k investment in return for a 5% valuation of their business. "Sharks as a married couple and parents and business partners, we can tell you that when it comes to eating, we all struggle to balance eating healthy with eating what tastes good. Let's be honest, all the indulging stuff we love isn't good for us, and that's where we come in with Sweet Kiwi," they said while introducing their healthy food brand. 

The couple explained that their product was entirely organic and low-calorie, made from milk sourced from local farms. "Each pint consists of 22 g of protein, Prebiotic fiber, gut-healthy probiotics, and a unique blend of immunity-boosting superfoods." Eigbe then divulged some background information, stating that she was born and raised in Nigeria and the United Kingdom. She later moved to Dallas, Texas. Prior to starting her health-conscious company, the young entrepreneur revealed that she had a health concern that led her to experiment with healthier food options. It was during this time that she developed her famous dessert made with Greek yogurt. 

"I was diagnosed with a uterine fibroid, and I had to go see a doctor, and I was just 22 at the time. And she was telling me all this stuff about surgery, and so I started thinking maybe a lifestyle change could make a difference. So I started researching, I changed my diet, started eating better, but I struggled with the dessert part, and I found frozen yogurt, but I started realizing it was just not healthy, so much sugar," she said. Eigbe revealed that she started her small business in 2011 and scaled it to the USA in 2019. "So we opened stores in Nigeria we grew that business. Yes, correct retail stores, mortar stores." The couple disclosed that so far, the lifetime profit of their frozen dessert was around $2 million. 

They also disclosed their profitable partnership with Whole Foods, claiming to have a presence in more than 1700 locations. The 'sharks' were impressed with the pitch, however, Lori Greiner quickly pulled out because of her ties with Frozen Farmer. Kevin O'Leary jumped in with a tempting offer, “This category is very crowded,” he said. “The fact that you got Kroger ... it’s very hard to get in. I’ll give you $250,000 for 20%," he proposed. The couple countered the offer and invited his wrath, “Alright, alright, I’m out. Out. Gone,” O’Leary said. “I don’t know what you’re doing, Mr. Wonderful is pissed,” O'Leary reacted to their deal. 

As the remaining sharks backed out after the tense confrontation, Robert Herjavec stepped in with a re-offer: $250,000 for 20% valuation.“I don’t have a lot of investment in this space, but I love this space and I want to learn,” he said. “There are no two better people that I’m going to put my money into than the two of you.” The couple countered it with $250,000 for a 7.1% stake, plus 5% in advisory shares. Herjavec made a final move: $250,000 for a 16% stake in the company, including 5% in advisory shares. The couple accepted it without losing out, reported CNBC. 

At present, Sweet Kiwi has expanded its retail reach with Walmart, Kroger, Mom’s Organic Market, Ralphs, and Giant stores. They also partnered with The Smurfs in creating organic frozen yogurt bars. The company has profitably scaled to over $4 million as of 2024, as reported by Shark Tank Recap.