Magic Whiteboard becomes Dragons’ most successful investment

WORCESTER-based Dragons’ Den hopeful Magic Whiteboard has become the most successful investment to date for TV ‘dragons’ Theo Paphitis and Deborah Meaden.

The firm, which came up with the idea of a portable whiteboard which clings to any hard flat surface using static, received £100,000 from Meaden and Paphitis for 40% of the business. It has now achieved sales of more than £1.2m.

And now the firm has agreed a deal with Sainsbury’s which will see the supermarket chain stocking Magic Whiteboard in 75 of its stores.

Company founders Neil and Laura Westwood joined Paphitis at the launch.

Paphitis said “Magic Whiteboard is my most successful investment from Dragons’ Den and we are excited about expanding across the UK with Sainsbury’s.”

Magic Whiteboard managing director Neil Westwood said: “This is a big moment for us – we are expanding, employing more people and sales are increasing. This deal with Sainsbury’s is great news.”

The firm now exports to more than 20 countries worldwide.