Atlantic Candy Company Shark Tank Net Worth 2023
Jared appeared on Shark Tank season 8 episode 4 in search of $1 million for a 10% stake in his firm, suggesting a pre-money valuation of $10 million.
Since then, Atlantic’s Toy Box Chocolates have rapidly grown to be stocked in major retail outlets like Wal Mart, Target, and Office Depot and are estimated to generate annual revenues of $4 million by June 2022. Furthermore, Atlantic Candy Company’s net worth is estimated to exceed 18 million USD by December 2022.
What is Atlantic Candy Company?
The Atlantic Candy Company, formerly known as Whetstone Candy Company since the 1980s, has been a major player in the candy industry. They supply chocolates to some of the biggest candy brands such as Hershey, Mauna-Loa, Nestle, and M&M Mars.
Based in Saint Augustine, Florida, the company offers a unique product line called the Toy Box, which consists of a delicious treat and a fun toy like a pocket pet. The toys are kept in a Safe Capsule, making them suitable for children of all ages.
Jared Whetstone, the Brand Manager for Atlantic Candy Company, is a third-generation chocolatier, and his grandfather launched Whetstone Chocolates in 1967.
His father, Hank Whetstone Jr., started the Whetstone Candy Company in the late 1980s, and the elder Whetstone is a prominent figure in the confectionery industry.
The company relocated to a new state-of-the-art facility in St. Augustine, Florida, in 1997, where they primarily engage in contract manufacturing for Nestle, Hershey, Mars, and other candy companies.
The Atlantic Candy Company was instrumental in creating the technology that produces Hershey Kiss, Hershey Nugget, M&M Hollow characters, and other candy products. Their facility has a production capacity of 40 million units per year, which will increase to 160 million units in 2017.
The company’s latest offering is a patented chocolate toy called “The Awesome Ball,” which is a two-piece plastic capsule containing a small chocolate-wrapped toy. Henry Whetstone owns the patent, and the product’s design is deemed safe for consumption.
Although Nestle released a similar product in the early 2000s, the FDA banned sales due to safety concerns. The Atlantic Candy Company’s European rights are owned by a company called Ferrero, and the product is widely distributed in Europe.
What happened to Atlantic Candy Company at the Shark Tank Pitch?
Jared appeared on the fourth episode of the eighth season of Shark Tank, seeking a $1 million investment in exchange for a 10% stake in his company, which implied a valuation of $10 million. During his pitch, he introduced the Sharks to his popular European product, chocolate-encapsulated balls or eggs.
He claimed that around 2 billion of these products were sold worldwide each year, but unfortunately, they had been banned in the United States due to safety concerns. Jared reassured the Sharks that his new design would resolve the issue.
Mark tried to calm Jared’s nerves, and Kevin asked if they could taste some samples. Jared brought out a tray, and Robert gave Lori a taste.
She remarked that she enjoyed chocolate in the morning. Jared then distributed the remaining samples to the Sharks. They all enjoyed the chocolate and were surprised to find little plastic toys inside with images of each Shark.
However, Jared’s product faced legal issues due to the 1930s practice of placing metal toys in chocolate, which resulted in children choking. The Sharks learned that the eggs were similar to Kinder Eggs from Germany, which were legal due to the chocolate not entirely encapsulating the toy.
Jared revealed that his company made $2.5 million the previous year under a contract with an Australian manufacturer that expired in 2015. The Atlantic Candy Company was now free to produce the chocolate with a toy, but the patent had only two years left.
Mark and Daymond left the deal because they were not familiar with retail, and Lori left due to concerns about the patent expiring soon. Robert left because of a lack of sales team, and Kevin apologized but also declined to invest. In the post-show interview, Jared admitted that his pitch had fallen apart on stage.
After the show, an Australian candy company that had previously contracted Atlantic Candy as a producer filed a $2 million lawsuit against the company, which was resolved in December 2017.
However, by 2021, Atlantic’s Toy Box Chocolates became available in major retail stores, such as Wal Mart, Target, and Office Depot, and projected a yearly income of $4 million.
Atlantic Candy Company Net Worth?
Jared appeared on Shark Tank season 8 episode 4 in search of $1 million for a 10% stake in his firm. This suggests a $10 million valuation.
Atlantic Candy Company Competitors?
Ferrero Rocher and Lindt sells similar chocolate eggs in Europe.
Atlantic Candy Company updates
Atlantic Candy Company is a contract manufacturer of chocolate that offers private label and contract manufacturing services. The company specializes in solid, hollow, and cluster articles, with or without inclusions, and can offer a turnkey solution to production needs.
Atlantic Candy Company has over 35 years of experience in contract manufacturing and has produced unique products on an industrial scale.
The company has proprietary methodology that allows it to infuse active ingredients to its confectionery and manufacture products at the highest quality standards. Atlantic Candy Company’s greatest strength is the creativity of its engineering team.
In 2016, Jared Whetstone, the founder of Atlantic Candy Company, appeared on Shark Tank seeking $1 million for 10% of his chocolate toy surprise company, Atlantic Candy Company.
He pitched a product called ToyBox, which is a capsule design that encloses each toy inside organic, gluten-free, and non-GMO milk chocolate. The product was already available for purchase in Dollar General Stores, Claire’s, Walmart, Staples, and even Target.
However, Jared failed to secure a deal on Shark Tank.
Despite not securing a deal on Shark Tank, Atlantic Candy Company continued to market its chocolate toy product, which is now branded as ToyBox. The toy is secured in a “toy capsule that prevents the two chocolate halves from coming apart”.
The product is still for sale and can be found in Wal Mart, Target, Office Depot, and many other retail outlets. Atlantic Candy Company also offers contract manufacturing, where it partners with other brands to manufacture certain types of chocolate.
Nestle, Hershey’s, and Disney are among some of the partner companies listed on the company’s website.
Summary Table: Atlantic Candy Company Shark Tank
| ATTRIBUTE | INFORMATION |
| Company Name | Atlantic Candy Company |
| Formerly Known As | Whetstone Candy Company |
| Founder | Jared Whetstone |
| Shark Tank Appearance | Season 8, Episode 4 |
| Investment Sought | $1 million for a 10% stake |
| Pre-Money Valuation | $10 million |
| Revenue Estimate | $4 million annually by June 2022 |
| Estimated Net Worth | $18 million by December 2022 |
| Product Offerings | Toy Box Chocolates, private label, and contract manufacturing services |
| Key Competitors | Ferrero Rocher and Lindt in Europe |
| Notable Product | The Awesome Ball, a patented chocolate toy containing a small chocolate-wrapped toy |
| Legal Issues | Jared’s product faced legal issues due to safety concerns |
| Lawsuit | In 2017, Atlantic Candy Company settled a $2 million lawsuit with an Australian candy company |
| Production Capacity | 40 million units per year (2016) increasing to 160 million units in 2017 |
| Headquarters | Saint Augustine, Florida, USA |
| Founder’s Background | Third-generation chocolatier, grandfather launched Whetstone Chocolates in 1967 |
Atlantic Candy Company FAQS
What Is Atlantic Candy Company?
Atlantic Candy Company is a contract manufacturer of chocolate and candy products. The company specializes in solid, hollow, and cluster articles, with or without inclusions, and offers private label and contract manufacturing services.
Atlantic Candy Company has over 35 years of experience in contract manufacturing and has worked with some of the biggest names in the business, including Nestle, Hershey, and Mars. The company’s lineage dates back to the early 1980s when it was known as Whetstone Candy Company.
The company became an industry leader due to its ability to produce unique products on an industrial scale.
Atlantic Candy Company is also known for its proprietary methodology that allows it to infuse active ingredients into its confectionery and manufacture products at the highest quality standards.
The company’s greatest strength is the creativity of its engineering team, which has enabled it to produce highly difficult and complex chocolate articles. Hundreds of the company’s machines are operating in over 40 countries worldwide.
In addition to its contract manufacturing services, Atlantic Candy Company also offers a chocolate toy product called ToyBox. The toy is secured in a “toy capsule” that prevents the two chocolate halves from sticking together.
The product is FDA-approved and uses a capsule design that encloses each toy inside organic, gluten-free, and non-GMO milk chocolate. ToyBox is available for purchase in Dollar General Stores, Claire’s, Walmart, Staples, and even Target.
ToyBox is not its main source of income, and the company partners with other brands to manufacture certain types of chocolate.
What Happened To Atlantic Candy Company After Appearing On Shark Tank
After appearing on Shark Tank, Atlantic Candy Company did not secure an investment from the Sharks. However, the company redesigned its product, ToyBox, and it is now stocked in major retail outlets such as Walmart, Target, and Office Depot.
The product is estimated to generate annual revenues of $4 million as of June 2022. The company’s net worth is estimated to exceed $18 million USD as of 2023. In August 2016, an Australian candy company that previously used Atlantic Candy as a contract manufacturer sued the company for $2 million.
The lawsuit claimed that Jared Whetstone’s father, who was a former employee of the Australian company, had stolen trade secrets and used them to start Atlantic Candy Company. Despite the legal challenges, Atlantic Candy Company continued to operate and grow its business.
How Does Atlantic Candy Company Works ?
Atlantic Candy Company is a contract manufacturer of chocolate that specializes in solid, hollow, and cluster articles, with or without inclusions.
The company offers private label and contract manufacturing services and has worked with some of the biggest names in the business, including Nestle, Hershey’s, and Disney.
Atlantic Candy Company has over 35 years of experience in contract manufacturing and has built its own machines, which it can use to partner with other companies or brands for specific product design.
Atlantic Candy Company’s primary business is contract manufacturing for other candy brands. The company has been involved in the creation of machinery that produces Hershey Kisses, Hershey Nuggets, M&M Hollow characters, and more.
The company’s factory is located in St. Augustine, Florida, and is a state-of-the-art facility. Atlantic Candy Company also produces private-label chocolate.
Atlantic Candy Company appeared on Shark Tank with its product ToyBox, which is a surprise toy enclosed inside a milk chocolate ball.
The ToyBox chocolate uses a capsule design that encloses each toy inside organic, gluten-free, and non-GMO milk chocolate.
Although Jared Whetstone, the founder of Atlantic Candy Company, did not secure a deal on Shark Tank, the product is still for sale and is available for purchase in Dollar General Stores, Claire’s, Walmart, Staples, and even Target.
What Is The Current Valuation Of Atlantic Candy Company
Atlantic Candy Company’s net worth is estimated to be $18 million as of 202. The company’s founder, Jared Whetstone, appeared on Shark Tank in 2016 and asked for $1 million for a 10% stake in his firm, suggesting a pre-money valuation of $10 million.
Since then, Atlantic’s Toy Box Chocolates have grown rapidly and are now stocked in major retail outlets like Walmart, Target, and Office Depot. The chocolates are estimated to generate annual revenues of $4 million by June 2022.
Atlantic Candy Company’s net worth is projected to exceed $18 million by December 2022.
However, 3 reports that Atlantic Candy’s annual revenues are between $1 million and $10 million, and the company has 10-100 employees.
Does Atlantic Candy Company Still Exist ?
Yes, Atlantic Candy Company still exists. The company specializes in contract manufacturing of chocolate products and offers private label and contract manufacturing services.
Atlantic Candy Company has been in business for over 35 years and has worked with some of the biggest names in the industry, including Nestle, Hershey’s, and Disney.
The company’s greatest strength is the creativity of its engineering team, which allows it to infuse active ingredients into its confectionery and manufacture products at the highest quality standards.
Atlantic Candy Company is also known for its chocolate toy product, which is now branded as ToyBox. The toy is secured in a “toy capsule” that prevents the two chocolate halves from sticking together.
The product is widely sold in Europe, and Ferrero owns the European rights to it. As of June 2022, ToyBox chocolates can be found in Walmart, Target, Office Depot, and many other retail outlets, and the company has estimated annual revenues of $4 million.
What is Atlantic Candy Company?
It is an American candy manufacturer that was founded in 2003. It began as Whetstone Chocolates, a third generation chocolatier. Its products include chocolate-encased toys.
Who is the founder of Atlantic Candy Company?
Originally known as Whetstone Candy, Jared’s father launched the firm in the late 1980s.
How much was he seeking in the Shark Tank?
Jared was seeking $1 million for 10% of Atlantic Candy Company.
Did he the deal from the Sharks?
No. He failed to secure an investment from the Sharks.
Is Atlantic Candy Company still in business?
The firm has been back in business for a time now, selling toy-filled chocolate surprises at various places around the country.
Their ToyBox chocolate surprise employs the FDA-approved Safe-Capsule design to encapsulate each toy surprise in organic, gluten-free, non-gmo milk chocolate.
Where is Atlantic Candy Company located?
The firm is headquartered in St. Augustine, Florida.
What are their main products?
They manufacture chocolate-encased toys and other products, such as soft-serve ice creams, lollipops, and gumballs.
Their products can be found in a wide variety of retail locations, including Wal Mart, Target, Office Depot and Amazon.com.
What episode was Atlantic Candy Company featured on Shark Tank?
Jared appeared on the shark tank show in Season 8, Episode 4.
Does Atlantic Candy Company make money?
According to Atlantic’s Toy Box Chocolates, the firm has made $2.5 million in sales since 2015 and will make $4 million by 2021.
When was Atlantic Candy Company aired on Shark Tank?
Jared appeared on Shark Tank on October, 14th 2016.
What happened to Atlantic Candy Company after shark tank?
Atlantic Candy Company redesigned their product, ToyBox, after exiting Shark Tank without a contract and facing legal challenges and an expired patent.
ToyBox chocolate is FDA-approved and employs a capsule design that encases each toy inside organic, gluten-free, and non-GMO milk chocolate.
