Wednesday 21 February 2018

'I know it's TV, but they had us over a barrel. It wasn't fair'

Cormac McQuinn

A ROW has broken out over the collapse of one of presidential candidate Sean Gallagher's 'Dragons' Den' investment offers after the contestants withdrew from the deal.

David Roberts and Martin Hendriken featured on 'Dragons' Den' in February this year, pitching their company Grow Rings.

The pair manufactures flexible containers for potting plants, but after initially agreeing to an offer of €40,000 for 40pc by dragons Sean Gallagher and Bobby Kerr, they rejected the deal.

Mr Roberts explained why he and his business partner cancelled the investment, saying the dragons were slow to sign the contracts.

The Sligo-based businessman also complained that Mr Gallagher and Mr Kerr were seeking ownership of too much of the company.

According to Mr Roberts: "Looking back on what they asked for, I know it's TV but they kind of had us over a barrel ... afterwards we thought, 40pc isn't really that fair.

"I got the impression that they were a little taken aback."

Mr Gallagher's spokeswoman did not address questions on the failure of the deal with Grow Rings. However, Bobby Kerr last night called Mr Roberts's view on how the deal played out "rubbish" and said: "Sean and I were shafted."

He said he was "shocked" by their treatment.

On the accusation that they were slow to invest he said: "I'm never going to give anybody any money until I know where it's being spent."

Mr Kerr added: "They used us, they used our contacts, got their introduction, got the benefit of the show and then backed out of a deal that they'd shaken hands on."

On Mr Roberts's complaint that the dragons were seeking too much, Mr Kerr said: "Well, why did they agree if they thought it was unfair? That's rubbish."

Irish Independent

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