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Cloth diaper manufacturer Apple Cheeks wins $100,000 investment deal on Dragon's Den
LACHINE, QB, January 19, 2012 - LaSalle-based cloth-diaper firm AppleCheeks landed a $100,000 investment deal on CBC Television’s Dragon’s Den reality show Wednesday night. Two Dragons – Jim Treliving and Arlene Dickinson – agreed to provide the funds in return for a 25 per cent stake in the company.
AppleCheeks was founded in 2007 by Amy Appleton and partner Ilana Grostern. The duo – accompanied by their two babies – asked the Dragons to give them a $100,000 to help fund a plan to expand the firm’s product line into big box stores.
“It’s been a very, very exciting day,” Grostern said in an interview Thursday afternoon, the day after the episode aired on CBC.
“Our goals was not necessarily to walk away with a deal,” she said, explaining that two other cloth diaper firms had not been well-received by the Dragons on earlier episodes of the shows “We wanted to show them how well the industry does undefined and how legitimate it is.”