Rebel Cheese Net Worth Shark Tank Update

Cheese is now enjoyed in many ways, often paired with foods like grapes, olives, and other fruits. It has even become a popular party snack and is sometimes served in the form of a cheese fountain. However, for vegans, cheese is prohibited because it is made from animal products, so they can’t enjoy it, even if they like the taste.

Kirsten Maitland and Fred Zwar, the owners of Rebel Cheese, have introduced a plant-based alternative to traditional dairy cheese. They are made from different plants like cashews and mixed with water, salt, and culture to give a smooth, salty texture. The cheese is not made out of shortcuts but by getting experience in artisan cheesemaking techniques including cave aging and culturing. The business offers 20 different varieties of cheese too.

The owners came on Shark Tank to request $750K in exchange for 5% of their company. They also presented the sharks with their best-selling five SKUs including Brie, Honey Pistachio Chevre, sharp cheddar, sundried tomato fromage, and pimento. Let’s see if they got the deal or not.

Rebel Cheese Net Worth Shark Tank Update

Kirsten and Fred were looking for an investment of $750k in exchange for 5% equity in the company. At the time of the episode, they valued their company at $15 million. Kirsten and Fred successfully secured a deal with Mark and Lori for an investment of $750k for 10% equity in the company. The investment adjusted the company’s net worth to around $7.5 million. After the show aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Rebel Cheese in 2024 is around $25 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Kevin O’Leary	Out	N\A	N\A
Mark Cuban + Lori Greiner	$750K for 5% equity	$750K for 10% equity	Yes
Robert Herjavec	Out	N\A	N\A
Emma Grede	Out	N\A	N\A

The Owners’ Backstory

According to an online article, Kirsten said, “We did a lot of volunteering at sanctuaries and places like that, but we didn’t think it felt like much and wanted to do so much more. We were passionate about vegan food. We had been vegan for a while and felt like there was a gap in terms of gourmet vegan cheeses. We combined our values and passions and decided to go for it.”

Their love for animals was basically the driving force to set the foundations for Rebel Cheese.

Initial Pitch

The owners came on the show to seek $750K for a 5% equity stake. Their business offers rich and creamy cheese made out of plant-based materials. The business makes 20 types of cheese, each highlighting their mastery and no compromise on taste, making them available for vegans too.

Queries about the Product

Kevin asked the first question about their main ingredient. Kirsten replied that they use cashew and multiple plant-based materials too to give a vegan option in terms of dairy products. She also added that they also have caves to cave-age the Brie which makes their product unique.

Herjavec was curious to know if they were the only ones in the market who made vegan cheese. She highlighted that even though there are people making such cheese not on a high scale like them. They have recently built a new production facility where they are able to make 8M cheese wheels annually.

Emma asked about their business model. Fred pointed out that currently, they are selling their product on three different mediums including e-commerce which runs through subscription and has 16% weightage. Moreover, in their wholesale program, their sales are 17% and, in their restaurant, it is about 65% weightage.

He also added that during the pandemic they focused on e-commerce and currently they are in about 100 retailers.

Lori wanted to know if they were in any major food stores like Whole Foods. Kirsten replied in negation. Although they contacted them at the start of the business, they were not ready at that time.

Kevin then inquired about the price of their vegan cheese wheel in comparison to a traditional wheel of high-end Brie. Fred highlighted that a single wheel costs them $4.67 to make and they sell in the retailers for $9. Moreover, they sell a wheel for $15 to $20 in terms of MSRP (Manufacturer’s Suggested Retail Price). The price of real cheese in the market is between $10 to $20.

Herjavec asked about their current sales. The owner replied that last year their sales were $2.5M and this year’s projection is about $3.5M in sales.

Kevin was interested to know about their profits. Fred confidently pointed out that they have been in profit for four years. However, their profits this year will break even as they have invested in the factory. They are hoping to get into 500 stores, which will increase their sales to $7M.

Shark’s Response and Final Decision

Kevin was the first shark to back out of the deal as he considered their valuation to be too high.

Cuban offered them $750K for 10% of their company.

Lori then asked Cuban to get into a partnership on the deal, which he readily accepted.

Herjavec then backed out too as he pointed out that he is not a huge cheese guy.

Emma passed the deal by highlighting that she does not consider the product to be good enough to be invested in.

Lori and Cuban collectively offered them $750K for a 10% equity stake.

Fred then counter-offered them $750K for 6% of their company, which Cuban rejected immediately.

Kirsten counter-offered for the second time for $1M for a 10% equity stake. The sharks didn’t like it either.

Interestingly, they counter-offered for the third time and pitched a deal of $750K for 7.5% equity. This again got a negative response from the sharks.

Finally, they accepted Lori and Cuban’s offer of $750K for 10% of their company and left the show with two sharks by their side.

Product’s Availability

After Rebel Cheese came on the show, the company saw a big increase in online sales. One of their top sellers was the “Shark Tank Box,” which included the five flavors they presented to the Sharks. It also looks like the deal with Mark and Lori was finalized, as the Rebel Cheese website now offers special boxes named “Lori’s Box” and “Mark’s Box.”

Conclusion

Rebel Cheese successfully got a deal with Cuban and Lori on Shark Tank, receiving $750K for 10% equity. Since their appearance, the company has experienced an increase in online sales, with their “Shark Tank Box” becoming a popular product. The partnership with Cuban and Lori appears to have been finalized, as the Rebel Cheese website now features custom boxes named after them.