Nuts ‘N More

NOT SO NUTS: Yes, it had help from "Shark Tank" financiers Mark Cuban and Robert Herjavec, but Pawtucket-based Nuts 'N More has proven to be a successful venture since its creation in 2010. Pictured in 2015, from left, are Nuts 'N More partners Dennis Iannotti, Peter Ferreira and Neil Cameron. / PBN FILE PHOTO/MICHAEL SALERNO
NOT SO NUTS: Yes, it had help from "Shark Tank" financiers Mark Cuban and Robert Herjavec, but Pawtucket-based Nuts 'N More has proven to be a successful venture since its creation in 2010. Pictured in 2015, from left, are Nuts 'N More partners Dennis Iannotti, Peter Ferreira and Neil Cameron. / PBN FILE PHOTO/MICHAEL SALERNO

It turns out, strange as it sounds, that sharks like nuts. Who knew? That was good news in 2013 for three Providence-area entrepreneurs who were building a business that makes and sells high-protein nut butters, almond butters and protein powder.

The reality show “Shark Tank,” which publicizes and promotes people forging new business ideas, discovered and covered the East Providence-based Nuts ‘N More in a broadcast in early 2013. The co-owners of Nuts ‘N More, Dennis Iannotti, Neil Cameron and Peter Ferreira, founded the business in 2010.

The young food company won $250,000 from “Shark Tank” after their episode aired. At the time, the business had already made its first million, but the exposure it gleaned for “Shark Tank” was enormously valuable.

The fresh idea of the Nuts ‘N More products creators was to make protein-enhanced nut butters and powders taste good. Ingredients include top-quality peanuts, a sweetener derived from birch trees, and a powerful protein compound. Somehow, the production process makes the butters taste good, which was the original impulse by co-owner Iannotti when he first dreamed up the idea when he was managing a vitamin supplement store.

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The company has a manufacturing facility in East Providence and a retail store in Pawtucket. The owners expect sales to double in 2016. The nut butters are sold in GNC stores across the United States and in Whole Foods in Rhode Island and Massachusetts, as well as in other countries. n

YEAR ESTABLISHED: 2010

TYPE OF BUSINESS: Food manufacturer

THEN:

OWNERS: Majority shareholders Dennis Iannotti, Neil Cameron and Peter Ferrreira

LOCATION: Headquarters at 10 Almeida St., East Providence; retail at 558 Mineral Spring Ave., Suite BF110, Pawtucket

EMPLOYEES: 11

ANNUAL SALES: $4 million

NOW:

OWNERS: Dennis Iannotti, Neil Cameron and Peter Ferreira

LOCATION: Manufacturing in East Providence; retail store in Pawtucket

EMPLOYEES: 11

ANNUAL SALES: Estimated $8 million in 2016

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