All The Details To Know About Meat The Mushroom From Shark Tank
Going vegan doesn't mean giving up some of your favorite food items. Not only are meat replicants getting tastier and more varied, but they are also significantly healthier. For those who can't imagine their morning without a few slices of bacon, Meat the Mushroom has a healthy alternative to sink your teeth into.
The company's claim to fame is its creation of the vegan bacon product, Shroomacon. As its name implies, Shroomacon is a bacon alternative made using mushrooms. Regular bacon has been linked to several health issues such as heart disease and high blood pressure. Bacon and similar processed meats have even been recognized as a Class I carcinogen by the World Health Organization. In contrast, Shroomacon is made only using sliced mushrooms, natural smoke flavor, olive oil, salt, and black pepper while also being free of soy, gluten, and cholesterol.
As society grows more health-conscious, products such as Shroomacon are gaining popularity. Meat the Mushroom and Shroomacon are about to see a whole new surge of traffic as the company will be appearing on this Friday's Season 15 episode of "Shark Tank." But before the sharks get a chance to taste-test Meat the Mushroom's selection, it's time we take our own bite of this business and learn what they're all about.
Its founder's life was saved by going vegan
For many, going vegan is a choice made to improve their health. But for Meat the Mushroom co-founder Marvin Montague Jr., making the switch in 2014 proved to be a life-changing decision. Within his first year of going vegan, Montague successfully reversed the early stages of heart disease and was rid of the debilitating asthma that had been with him since childhood.
The passion for sharing the benefits of a vegan lifestyle eventually manifested itself in the creation of Meat the Mushroom, but not in the way that Montague was expecting. In a press release, Montague shared, "Believe it or not, I created Shroomacon by accident! After seeing how impactful switching to a plant-based diet was on my health, I had a revelation. I wanted to open a restaurant, and while creating the recipe for meat alternatives that didn't use soy, I created Shroomacon. Bacon was one of the hardest and last things I gave up on my journey to veganism. Being able to give fellow vegans, vegetarians, and healthy eaters a taste rivaling pork bacon without all the bad stuff is exciting."
The birth of this fresh new food item inspired the creation of Meat the Mushroom, which Montague established officially in 2021 alongside his wife Aleah Rae.
The company has been endorsed by some big names
Meat the Mushroom has quickly become a favorite among vegan buyers. Out of the 413 reviews on its website for Shroomacon, 87% are five-star ratings. While some have complained about its price, many who are not fans of mushrooms have praised its high quality and how it almost tastes like meat-based bacon. One reviewer gleefully wrote, "Seriously, this stuff is a real contender for pork! Beats turkey bacon, ALL of em. I especially love that it's fail-proof & crispy every time. Will be ordering on subscription. Thanks for making it!"
It doesn't hurt that Meat the Mushroom has been touted by some relatively big names. Two-time Grammy nominee Keri Hilson shared that she adds Shroomacon bits to her salads. Famed stylist and creative director June Ambrose similarly promoted the product on her Instagram, sharing how excited she was to try it out. Emmy-winning TV host and influencer Tabitha Brown showed her followers how she makes BLTs using Shroomacon in place of traditional bacon. Additionally, the product has been nominated for a 2024 VegNews Veggie Award in the Best Bacon category alongside established brands such as Tofurky and Lightlife Foods.
Meat the Mushroom is available across the country
In the short amount of time that Meat the Mushroom has been open, it has not only earned stellar reviews and a strong following, but it has also spread far and wide. In Marvin and Aleah Rae Montague's mission to provide customers with a healthier take on bacon, Shroomacon is becoming an increasingly common sight for vegan shoppers.
Currently, along with being sold on Meat the Mushroom's official website, Shroomacon is also available in over 75 store locations. Various health food chains such as MOM's Organic Market, Woodman's, and Jungle Jim's International carry the brand, alongside other retailers in Texas, Maryland, Virginia, New York, Pennsylvania, and more. As of this writing, however, the company is sold out of its inventory and recommends calling nearby stores to ensure they have them in stock.
It will be interesting to see how this affects Meat the Mushroom in the aftermath of its "Shark Tank" appearance. The company will likely experience an influx of sales and website visits following the segment's airing — a phenomenon known as the "Shark Tank" effect. Not having enough in stock could mean hundreds of thousands in potential lost revenue, as well as building a poor reputation with new customers. But the duo seems confident in what the show will allow for them, with Aleah Rae sharing in a press statement, I have to be honest, I still can't believe it's happening! ... Aside from the opportunity to gain a partner with so much business experience as well as funding to help companies grow faster, being on a national stage like Shark Tank means a lot to small businesses ... So grateful to Shark Tank for the opportunity to spread this information to a wider audience!"
What happened to Meat the Mushroom on Shark Tank?
Marvin and Aleah Rae Montague enter the tank with a familiar pitch for the sharks: a tasty, healthy, plant-based alternative to a beloved meat product. However, they have one big advantage over similar products that have appeared on the show. As Kevin O'Leary states after tasting a strip of Meat the Mushroom bacon, "In Shark Tank, we have so many plant-based products — they all taste like crap. This actually tastes good."
The Montagues are seeking $150,000 for a 7.5% stake in Meat the Mushroom, and despite making a good impression on the sharks with their presentation and samples, the panel isn't sold on that pitch. After running through some of the particulars — $360,000 in lifetime sales, mostly direct to consumer — O'Leary jumps in with an offer. He'll give the Montagues the $150,000 they are after, but for 33.3%, as he thinks their initial valuation was way off. Mark Cuban opts out as he's already invested in a competitor product, Daymond John respectfully declines because he thinks it will be too challenging to maximize profit, and guest-shark Daniel Lubetzky takes himself out of the running and encourages the Montagues to accept O'Leary's deal.
However, the couple is nervous about such a high equity ask, as they know they will have to raise more money from other investors down the line. Lori Greiner makes things interesting when she throws her own hat in the ring by suggesting that she and O'Leary go in on the deal together for the $150,000 for 33.3%. After unsuccessfully trying to negotiate the equity stake down, the Montagues relent. Seeing the potential benefits of having two sharks on their side, they accept and leave the tank with a deal.