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Sisters Get Deal on ‘Shark Tank’ to Scale TOAST-IT Frozen Latin Foods Business

sharktank.jpg

KIND Snacks Founder and Guest Shark Daniel Lubetzky and his team at Camino Partners, a business building and investment platform, has teamed up with TOAST-IT to provide support and mentorship to founders and sisters Mafe and Coco Cabezas to scale their brand of Latin American staples. (ABC/Christopher Willard)

October 22, 2023

As seen on the October 6 episode of ABC’s hit series, “Shark Tank,” KIND Snacks Founder and Guest Shark Daniel Lubetzky and his team at Camino Partners, a business building and investment platform, has teamed up with TOAST-IT to provide support and mentorship to founders and sisters Mafe and Coco Cabezas to scale their brand of Latin American staples.

When the Cabezas sisters moved to the U.S. from Venezuela, they deeply missed their mom's cooking. While looking for replacements, they discovered a hole in the market: authentic arepas – essentially basic bread in South American cultures – were nowhere to be found. So, they decided to launch their own arepas brand using their mother's recipe, and now it can be found in freezers everywhere from Walmart to Whole Foods. 

“We were motivated to do a deal with Daniel for many reasons: just like us, he is also Hispanic and immigrated to the United States from Mexico at 16. He was a natural first choice for us when we talked about who our dream Shark would be to do a deal with. Not only did he create an entirely new snacking category with KIND, which he built from the ground up into a multi-billion-dollar brand, he’s interested in bringing Hispanic food offerings to the U.S., which he’s doing through co-founding SOMOS, a Mexican food brand bringing real Mexican flavors to ready-to-eat foods. We know Daniel will add so much value to our brand through his lived experience building in the CPG space,” said Coco Cabezas.

Lubetzky invested $150,000 in the TOAST-IT business in exchange for 20% equity. 

“Mafe and Coco have built the magical bond of sisterhood into a formidable business partnership. As a confused Mexican Jewish American and co-founder of SOMOS Mexican foods, I love discovering companies like TOAST-IT that have mastered the formula for bringing beloved Hispanic staples to mainstream consumers in a format that is delicious and convenient,” Lubetzky said.

 

KEYWORDS: Hispanic Hispanic food Hispanic foods processor Latin American foods

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