Children are very inquisitive souls and they love treating themselves to lots of sugar rush, donât they? They also love playing with toys. So why not combine both of these treats together?
Atlantic Candy is here to realize exactly this idea. The company is here to bring sweet goodness wrapped with a surprise treat inside it.
Atlantic Candy at a Glance:
| Idea | Manufacturer of chocolate balls with toy figures inside them. |
| Founders | Jared Whetstone |
| Asked For | $1,000,000 for 10% |
| Accepted Deal | No Deal |
| Sharks | None |
| Business status | In Business |
| Episode No. | Season 8, Episode 4 |
Index:
What is Atlantic Candy?
Atlantic Candy is a Florida-based, American company that manufactures sweet candies with an additional surprise within it.
It is essentially like Kinder Eggs which were quite famous in the US, but it was banned by U.S. Consumer Product Safety Commission.
Atlantic Candy is a family-owned company and has now found a safer way of selling the sweet goodness of chocolates with the surprise of a treat inside.
They are a huge name in the candy industry and suppliers to some of the biggest chocolate brands such as Nestle and Hersheys.
Founder Story:
Jared Whetstone, the founder of Atlantic Candy is a third-generation chocolatier.
The company claims to have found its âfamily heirloomâ in the idea of a legal solution of selling chocolate eggs with toys inside, which was earlier banned in the U.S. due to the health hazards it poses.
Jaredâs chocolaty journey started with his grandfather laying the foundation of Whetstone Chocolates in 1967. His father rebranded the company to Whetstone Candy Company in the 1980s.
The company then shifted its base to St. Augustine, Florida, in 1997 and this was where Jaredâs journey began.
Did Atlantic Candy get a deal on Shark Tank?
Jared appeared on Shark Tank in season 8, showcasing his company Atlantic Candy and seeking an investment of $1,000,000 for 10% equity in the company, which valued the company at $10 million.
He introduced sharks to his product, the popular âchocolate-enclosed eggsâ.
The sharks got to know that the product was similar to Kinder Eggs from Germany, which were legal because the chocolate did not entirely enclose the toy, reducing the choking risks for children.
The company also had only two years until its product patent expired.
Since the sharks were skeptical about the patent expiring soon, the retail market of the product as well as the steep valuation demanded, the company had to return without any sharks onboard.
What happened to Atlantic Candy after Shark Tank?
The company definitely got a major boost both in its sales and publicity due to Shark Tank. The product became majorly popular among children with a sweet tooth and soon gained a lot of sales from its target market.
In August 2016, the company got sued for $2 million by one of its previous Australian manufacturers. The lawsuit was terminated after a huge fight in December 2017.
Currently, Atlantic Candy has rebranded itself as âToy Boxâ chocolates and is a major part of the candy market in Walmart, target, and a lot of other supermarket chains.
Product Details:
- Atlantic Candy has rebranded itself to âToy Boxâ chocolates.
- Their latest product is also called Toy Box
- Toy Box is an edible chocolate shell over a plastic center capsule (to prevent choking) that comes complete with a surprise toy inside.
- The company has an FBA-approved and patented design for its product.
- The chocolate used is organic, Gluten-free, and made of Non-GMO milk.
What is the Net Worth of Atlantic Candy?
Jared brought Atlantic Candy on the Shark Tank platform with a valuation of $10 million. He also claimed to have sold more than $2 million worth of his products.
The retail price of the product box is $24 per box which contains 12 pieces.
After Shark Tank, the companyâs estimated sales were around $4 million annually as of June 2022.
The estimated Net worth of the company is $18 million as of December 2022. Hence, we can say that the company got a lot of advantages from appearing on the show.
Who are the main competitors of Atlantic Candy?
There are a lot of companies that create similar products in the market.
But two of the major competitors of Atlantic Candy are Ferrero Rocher and Lindt, which are two of the most popular and world-known chocolate and candy brand.
They have first mover as well as larger publicity advantages over Atlantic Candy.
Is Atlantic Candy still in business?
Yes, Atlantic Candy is still in business and is in fact flourishing with the annual sales as well as the profits.
The company continues to be a major part of the candy industry while also being a huge back-end supplier to major candy brands such as Nestle, M&mâs, Hersheyâs, and Mauna-Loa.
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FAQs:
What is Atlantic Candy?
Atlantic Candy is the manufacturer of milk chocolate candies with toys inside them. Its a Florida-based, American company that manufactures sweet candies with an additional surprise within it.
What's the net worth of Atlantic Candy?
Jared brought Atlantic Candy on the Shark Tank platform with a valuation of $10 million. He also claimed to have sold more than $2 million worth of his products. Atlantic Candyâs Net Worth is estimated to be around $18 million.
