Bertello Pizza Oven Net Worth Shark Tank Update

Pizza has become an all-time favorite among the masses. It is not only ordered on special occasions but also baked at home to satisfy our Italian taste buds. However, we can’t deny the authentic flavor of a freshly baked Italian-styled pizza.

Andy and Eric Bert, the owners of Bertello, have introduced an easy way to quench the Italian inside all of us. Their product is a wood-fired and gas outdoor pizza oven that provides an authentic Italian pizza experience.

Thus, it can be used with a propane gas option or can also be lit by the wood kiln. Moreover, it also uses lumps of charcoals, and wood pallets and can be ignited with wood and gas at the same time.

The brothers came on Shark Tank to request $120K for 10% of their company. They also demonstrated how the oven works and also created a general air of humor on the set with their pizza tricks. Let’s see if they got the deal or not.

Bertello Pizza Oven Net Worth Shark Tank Update

Andy and Eric were looking for an investment of $120K in exchange for 10% equity in Bertello. At the time of the episode, they valued their company at $1.2 million. They successfully secured a deal with Kevin O’Leary for an investment of $120K for 25% equity in the company. The investment adjusted the company’s net worth to around $480K. After the show aired, the company experienced a significant boost in exposure. As per my rough estimate, the current net worth of Bertello in 2024 is around $6.1 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Kevin O’Leary	$120K for 10% equity	$120K for 25% equity	Yes
Mark Cuban	Out	N\A	N\A
Robert Herjavec	Out	N\A	N\A
Barbara Corcoran	$120K for 10% equity	$120K for 25% equity	No
Lori Greiner	Out	N\A	N\A

The Owner’s Backstory

Eric is a licensed structural engineer. He had been working for 10 years in bridge design in Manhattan. Andy is in finance and worked in trading pits and then moved to Minnesota and now has a family of his own. Eric designed the Bertello oven and now he and his brother run the business.

Eric knows there are already many ovens in the market but he has been a passionate engineer since his childhood and he always aimed for something big just like his childhood massive tree house.

Initial Pitch

The brother duo came on the show to seek $120K for a 10% equity stake. They also brought baked pizza for the sharks on set from their own Bertello pizza oven. Moreover, Kevin also monitored the working of the oven and baked a pizza by himself.

Queries about the Product

Lori asked the first question regarding the time span it took to bake one pizza. Andy answered that it would take a maximum of 2 mins to bake a single pizza.

Herjavec inquired about their competitors. Andy again replied that they have one competitor on the market so far but they don’t have the same fuel options as their oven provides.

Herjavec also asked about the advantages of using wood and propane at the same time. Eric answered that propane helps the oven to preheat so it makes backing quicker and easier.

Lori asked if the product could be used indoors. The owner highlighted that he won’t recommend using it inside as there are risks of catching fire.

Herjavec was curious to know more about the product. He asked about the cost as well. Andy replied that it only retails for $250 and it cost them $84 to make. So, their net margin is 33%.

Cuban then inquired about their medium for selling the product and their sales so far. Andy affirmed that they are selling it on Amazon and this year their sales amount to 640K. In the last three months, they have made $400K.

Cuban also asked about their investments and any debt so far. They have up till now invested a total of $90K. Out of the total amount they had borrowed $70K and they have paid bake the amount too.

Lori wanted to know about the shareholders of the business. Eric answered that he holds 80% of the shares while Andy the rest 20%.

Corcoran asked about the main problem they face in the business so far. Eric replied that it’s the high demand scale that is been the major problem as they have to wait to get the money from their costumers and then use it to make more ovens.

Shark’s Response and Final Decision

Cuban liked their business but it’s not fit for him to invest in. Thus, he dropped out.

Herjavec praised the idea but he did not see a spark for him to invest in it as well, leading to his backing out.

Corcoran initially pointed out that the owners do not feel energetic while talking about their business. However, she still gave them an offer of $120K but for a 25% equity stake.

Kevin also offered them $120K but he needs 30% of shares in their company. Eric counter-offered Kevin if he was willing to lower the equity to 25%, which he readily accepted. Thus, the deal was finalized.

Product’s Availability

Fortunately, the business is still in the market and it is progressing at a quick rate. Eric also highlighted that “Without Kevin’s help, we would never have had the opportunity to do a live primetime QVC Show.”

As of the 2021 update their annual income is $6.1M and has more than 500 reviews on Amazon. Bertello now offers different sizes of ovens and various packages and accessories through the Bertello website and Amazon.

Conclusion

In a nutshell, the Bert brothers are doing great after appearing on the show. They not only grabbed a deal on Shark Tank but also Mr. Wonderful support. Kevin also proved helpful with his deal and his marketing of Bertello.