Where Is Tia Lupita Foods From Shark Tank Today?

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The show "Shark Tank" gives entrepreneurs a chance to showcase their products to a team of influential investors. If they nail their pitch and the product looks promising, there is a chance they'll walk away having secured a deal, and gain plenty of notoriety in the process. Back in early 2023, Hector Saldivar brought his Tia Lupita Foods brand to the show, where he sought $500,000 for a 5% stake in his company. Tia Lupita labels itself as a "Mexican-inspired" food brand, selling tortilla chips, tortillas, and hot sauces.

Saldivar explained that his brand started when his mother would send him her homemade hot sauce from Mexico. His friends in the United States loved it, so he started bottling and selling it as Tia Lupita. Over time, the brand grew to offer grain-free tortillas and tortilla chips, which he makes primarily with cactus. Ultimately, Saldivar was able to work out an investment deal with shark Kevin O'Leary.

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What Happened To Tia Lupita Foods On Shark Tank?

After a compelling pitch, most of the sharks immediately backed away from making a deal with Hector Saldivar for his Tia Lupita products. The general reasons were that the snack market was saturated and that Saldivar had taken on too much debt. However, Kevin O'Leary was interested in making a deal with Saldivar, so he offered him $500,000 as a loan, along with 12.5% interest, to be paid over 36 months; O'Leary also asked for 10% of the company despite that Saldivar had only offered 5%.

Saldivar resisted giving up 10%, but O'Leary's biggest qualm was that he worried his shares would get diluted as the company grew. Surprisingly, Lori Greiner suggested that O'Leary add a clause to make the shares non-dilutable. And in a twist of events, it was O'Leary who finally said the two "have a deal" rather than Saldivar. Usually, the entrepreneurs are the ones who end up agreeing to a deal, but in this case, Saldivar was able to get O'Leary to come to his terms of a $500,000 loan for 5% of the company -- exactly what he walked in requesting, which is rare.

Where Is Tia Lupita Foods After Shark Tank?

Tia Lupita Foods has seen plenty of success since the brand's "Shark Tank" appearance. Immediately following the episode's first airing, Hector Saldivar said he heard from people in his life whom he hadn't connected with in quite a while. "People that I hadn't heard [from] in decades were reaching out like, 'I just saw you in Shark Tank, man,'" Saldivar told Tasting Table. Saldivar also revealed that other investors suddenly started "returning our calls" after previously having "ghosted" the brand, so it looks like the TV appearance set the stage for even more financial support.

Sometimes, verbal deals made on "Shark Tank" don't pan out for one reason or another; it's not uncommon for the brand and the investor to part ways before signing anything -- but in this case, Kevin O'Leary was serious about partnering with Tia Lupita. Saldivar shared a video of O'Leary on Tia Lupita's LinkedIn page showing O'Leary plugging the brand, and Saldivar even poked fun at O'Leary in the caption for not properly pronouncing "Lupita."

Tia Lupita Foods Is Still In Business

As of late 2023, Tia Lupita Foods appears to be thriving. In October 2023, the brand secured $2.6 million after a seed round of funding, meaning they had partnered with several investors to build even more capital to grow the brand. While on the show, Hector Saldivar said the company was on track to make $4 million in 2023 and had just seen their first profitable month. While the company is still raising money, it appears that Tia Lupita is slowly crawling out of its debt, however, it's unconfirmed if the company wound up hitting their anticipated 2023 numbers.

These days, Tia Lupita is still selling its hot sauces, tortilla chips, tortillas, and salsas, and the website suggests it hasn't expanded outside of those products. One listing on Amazon suggests Tia Lupita grain-free chips are healthier than most store-bought varieties available. The brand is in stores including Sprouts, Wegman's, and Whole Foods, and the additional capital will likely help secure its place in even more grocery stores.

What's Next For Tia Lupita Foods?

As of press time, it had only been about seven months since Tia Lupita appeared on "Shark Tank," so it's hard to see how much growth the brand will truly find from its TV appearance. However, Hector Saldivar did tell Tasting Table that the show gave a boost to sales of one product in particular: The grain-free tortilla chips, which are made from cactus. He also credited the grain-free chips as being Kevin O'Leary's main reason for choosing to work out a deal. "He's like, 'This is the best tortilla chip or grain-free tortilla chip I've had ... and I live a grain-free diet,'" Saldivar recalled of O'Leary's reaction. It looks like that grain-free concept could be the brand's next big thing.

Tia Lupita's social media accounts are still active, and it's still headquartered in Tiburon, California. There isn't much information about what the company's next steps are, but it's evident that Tia Lupita isn't going anywhere any time soon.

Read the original article on Daily Meal.