Former Seabrook Crisps MD John Tague has secured a six-figure investment for his snack brand Tags after a pitch on the BBC’s Dragons’ Den.

He hopes the backing of Deborah Meaden and Peter Jones will be the key to unlocking the door to a listing in Sainsbury’s.

Tague, who ran Seabrook for four years until a falling out with then owner Ken Brook-Chrispin in 2011, bagged £125,000 from the two Dragons for a 30% equity stake – 25% more than he originally planned.

“I’ve given away a bit more than I wanted to but didn’t want to let Peter and Deborah go,” he said. “In hindsight it was worth the equity. I would have been kicking myself if I walked away.”

Tags Tasty Crisps was founded in April 2012 and now has space on shelves in 197 Asda stores across the UK and 35 Tesco shops in the North West. Tague said he was in negotiations for a listing in 300 B&M Bargain sites and that Morrisons had expressed an interest in stocking the brand later this year.

“By 2025 we aim to be the biggest family snack food business in the UK,” Tague told the dragons. Referring to Sainsbury’s he added: “I need a Dragon to help me open some doors. I know the market; I’ve been reasonably successful. You might have keys. Some of the doors I go into I can open very easily but some of the doors even driving a tank through them I’m still not getting through.”

Tags is set to generate profits of £110,000 on the back of sales of £760,000 in the 2016 financial year, with projections to grow to £2.2m the following year and £4.8m in 2018.

Tague’s pitch attracted the interest of four of the five Dragons, all looking to take between 27% and 30% of the business in return, on this week’s programme.

He eventually agreed a joint offer from Meaden and Jones, with each gaining a 15% stake for £62,500, in the hope they can get the brand a listing in Sainsbury’s. The pair agreed they would drop their ownership to 10% each if Tague had repaid the investment within 12 months.

Marketing agency Cube3 worked with Tague on the development and launch of the crisp brand, with a brief to create a premium brand at a value price.

Tags is available in three flavours – cider vinegar & sea salt, sweet chilli, and mature cheddar & red onion – with the manufacturing carried out by a third party.

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