South Bay's BottleKeeper Lands 'Shark Tank' Deal

MANHATTAN BEACH, CA – It has happened to almost everyone: you're at a party sipping on a beer, when you get into a great conversation and boom. The beer is warm.

Adam Callinan, from Manhattan Beach, and his cousin Matt Campbell were sick of drinking warm beer, and it turns out the investors on ABC's "Shark Tank" were too. The duo and their invention – stainless steel bottle sleeves insulated with neoprene that slip over a standard beer bottle – were featured on "Shark Tank" Sunday night, and it paid off.

Mark Cuban and Lori Greiner each invested $500,000 for a stake in the business, in exchange for 2.5% of the company which pays back a combined royalty of $1.50 per unit until each Shark gets $1 million back, according to The Beach Reporter.

Callinan told the newspaper that "Shark Tank" made sense to the BottleKeeper team due to the strategic input that the sharks could provide, and for the exposure, since they're mostly a direct-to-consumer business. Coming up in the new year, the five-person team based in El Segundo will be working on launching new products, getting the bottle sleeves into retail stores and expanding their international distribution.

BottleKeeper currently offers four models: the Standard 2.0, for standard beer bottles, the Stubby 2.0 for shorter bottles of brew, the Bomber 2.0 for the larger bottles and the BottleKeeper X which includes a built-in bottle opener. Bottles can also be custom engraved on their website.

For more information, visit the BottleKeeper website.

Image via YouTube screen grab