Table of Contents
Introduction
Bohana, a health food company that offers a nutritious alternative to popcorn, gained recognition after appearing on season 11 of Shark Tank. The company was founded by Priyal Bhartia and Nadine Habayeb, who shared a passion for healthy snacking.
Founders’ Backgrounds
Priyal Bhartia, hailing from India, discovered the benefits of Ayurveda and the water lily seed during her childhood. Nadine Habayeb, on the other hand, was raised in a family that valued health and wellness in the Middle East. In 2017, they launched Bohana, determined to bring the ancient superfood to an untapped market.
Appearance on Shark Tank
Nadine Habayeb pitched Bohana on Shark Tank, seeking $200,000 for a 10% equity stake. Barbara and Kevin O’Leary competed for a deal, but Nadine went with Kevin’s offer: a $200,000 loan with 9% interest over 3 years, in exchange for 8% equity. O’Leary expressed enthusiasm about the deal in an interview with Forbes, stating that he wanted to invest as soon as he tasted the product.
What Happened to Bohana After Shark Tank?
Bohana has been making a splash in the health food market since its appearance on Shark Tank. The brand has expanded its product lineup to include a variety of flavors such as Wild White Cheddar and Hickory BBQ, available at prices ranging from $19.99 to $29.99. The company is now in over 250 retail locations.
Significant Growth
In 2020, Bohana experienced an astonishing 500% growth and continues to attract media attention. BuzzFeed described the brand as “pretty darn delicious,” while VegNews and Snackist both included Bohana in their lists of top plant-based snack choices.
Closing a Deal with Boon Distribution
In January 2023, the founders sold the business to Boon Distribution for an undisclosed price. Boon Distribution is a family-owned company based in Texas. The deal represented a significant milestone in Bohana’s journey from Shark Tank to a successful acquisition.
Conclusion
As Bohana begins a new chapter, Priyal and Nadine have moved on to new ventures, and it’s likely that they will start another food-related business in the future. Overall, Bohana’s success story is a testament to the founders’ dedication to providing healthy snack alternatives. The brand has experienced significant growth and continues to gain recognition in the health food industry, making it a noteworthy player in the market.