Jared Whetstone, the founder of Atlantic Candy Company, made a memorable appearance on Shark Tank Season 8, pitching his family business. With a rich history in candy manufacturing and a patented chocolate toy product, Atlantic Candy Co. caught the attention of the Sharks. While they didn’t secure a deal, the company’s journey post-Shark Tank has been impressive.
- Atlantic Candy Co. appeared on Shark Tank Season 8, showcasing their expertise in candy manufacturing and a patented chocolate toy product.
- Despite not securing a deal with the Sharks, Atlantic Candy Co. rebranded their product as ToyBox and introduced an FDA-approved version.
- ToyBox chocolates are now available in major retail outlets like Walmart, Target, and Office Depot.
- Atlantic Candy Co. faced legal battles and challenges, including a lawsuit from a former contract manufacturer.
- The exposure from Shark Tank has contributed to Atlantic Candy Co.’s growth and success.
The Journey of Atlantic Candy Co. on Shark Tank
Jared Whetstone, the founder of Atlantic Candy Company, took the stage on Shark Tank to pitch his innovative chocolate encapsulated balls. These unique creations had previously been banned in the United States due to safety concerns. However, Jared introduced a redesigned version that complied with safety regulations and piqued the interest of the Sharks.
During his pitch, Jared showcased the new design of his chocolate balls and distributed samples to the Sharks for them to taste. The deliciousness of the chocolate was undeniable, capturing the attention and taste buds of the Sharks. However, as with any business venture, concerns were raised.
One significant concern discussed by the Sharks was the pending expiration of Atlantic Candy Co.’s patent. With the potential for competitors to enter the market once the patent expired, the Sharks were hesitant to make a deal. Additionally, the company’s sales force for the upcoming holiday season raised doubts about their ability to keep up with demand and secure retail partnerships.
“Your chocolate is awesome, but all these things kind of precursor that there’s some management issues or some infrastructure issues,”
– Robert Herjavec
Ultimately, despite the Sharks’ interest in the product, no deal was made with Atlantic Candy Co. during their appearance on Shark Tank. While this outcome may have been disappointing, it did not deter Jared and his team from pursuing their dream.
Life After Shark Tank for Atlantic Candy Co.
After their appearance on Shark Tank, Atlantic Candy Company faced several challenges, including legal battles and the impending expiration of their patent. However, the company persevered and underwent a major rebranding effort, introducing their product as ToyBox. The revamped ToyBox line features an FDA-approved version that uses organic, gluten-free, and non-GMO milk chocolate, catering to the health-conscious consumer.
Since their rebranding, Atlantic Candy Co.’s ToyBox chocolates have gained significant traction in the market. The company successfully secured retail partnerships with major outlets such as Walmart, Target, and Office Depot. This strategic expansion has propelled Atlantic Candy Co. to reach a broader customer base and increased their overall visibility.
The exact annual revenue of Atlantic Candy Co. is not publicly available. However, as of June 2022, the company has estimated revenues of $4 million, demonstrating their growth and success in the post-Shark Tank era.
Lawsuits and Legal Troubles
In the journey of Atlantic Candy Co., legal battles have been an unfortunate part of their story. One significant lawsuit occurred in 2016 when an Australian candy company, which had previously collaborated with Atlantic Candy as a contract manufacturer, sued them for $2 million. The lawsuit alleged that Jared’s father, the founder of Atlantic Candy, interfered in negotiations with another contractor, leading to financial damages for the Australian company.
The legal dispute caused significant challenges for Atlantic Candy Co. during that period. However, the case was terminated in December 2017, providing some relief for the company.
“Legal battles can pose tremendous obstacles for any business. Atlantic Candy Co. faced its fair share of difficulties during the lawsuit, but the resolution of the case allowed the company to move forward and focus on its goals and growth.” – Legal expert
Despite the legal hurdles, Atlantic Candy Co. persevered and continued to pursue its vision of bringing innovative and delicious candy products to the market.
Lawsuits and Legal Troubles Summary
|Atlantic Candy Co. vs. Australian Candy Company
|Australian Candy Company
|Case terminated in December 2017
This legal battle highlighted the importance of navigating legal issues carefully and ensuring that contracts and negotiations are conducted with transparency and integrity. Despite this setback, Atlantic Candy Co. remained resilient, proving their determination and commitment to their business.
Expansion and Retail Presence
Since its appearance on Shark Tank, Atlantic Candy Company has experienced significant growth and expanded its presence in retail outlets. The company’s flagship product, ToyBox chocolates, can now be found in major stores across the country, including Walmart, Target, and Office Depot. This expansion not only underscores the popularity and demand for Atlantic Candy Co.’s products but also highlights the company’s successful efforts in securing partnerships with renowned retail giants.
The expansion into these prominent retail outlets has had a positive impact on Atlantic Candy Co.’s revenue. As of June 2022, the company’s estimated annual revenue stands at an impressive $4 million. This demonstrates the remarkable growth and success Atlantic Candy Co. has achieved since its Shark Tank appearance, solidifying its position in the highly competitive candy industry.
The Role of Retail Expansion
The strategic decision to expand Atlantic Candy Co.’s retail presence has played a crucial role in propelling the company’s growth and success. By securing partnerships with Walmart, Target, and Office Depot, Atlantic Candy Co. has gained access to a vast customer base and increased brand visibility. This retail expansion creates new opportunities for consumers to discover and purchase ToyBox chocolates, driving sales and boosting the company’s overall revenue.
Meeting Consumer Demand
Atlantic Candy Co.’s expansion into major retail outlets is in response to the growing demand for its high-quality and innovative products. The availability of ToyBox chocolates in convenient locations allows consumers to easily access and indulge in these delectable treats. Furthermore, the company’s commitment to producing organic, gluten-free, and non-GMO milk chocolate aligns with the changing preferences of health-conscious consumers, further fueling their market presence.
Expanding into prominent retail outlets such as Walmart, Target, and Office Depot has been a significant milestone for Atlantic Candy Co. This increased visibility and accessibility have generated substantial revenue growth, solidifying our position as a leading player in the candy industry.” – Jared Whetstone, Founder of Atlantic Candy Co.
The Original Candy Manufacturing Business
Atlantic Candy Company, originally known as Whetstone Candy, has a rich history in the candy manufacturing industry. Founded by Jared’s father in the late 1980s, the company initially focused on contract manufacturing for major candy brands such as Nestle, Hershey, and Mars. They played a pivotal role in the creation of machinery to produce iconic candy products like the Hershey Kiss and M&M Hollow characters.
Their dedication to quality and innovation has led them to establish a state-of-the-art factory in St. Augustine, Florida. This facility boasts advanced technology and a high production capacity, enabling them to manufacture millions of candy units per year. Atlantic Candy Company’s expertise in contract manufacturing has made them a trusted partner in the industry.
Contract Manufacturing Expertise
Atlantic Candy Company’s vast experience in contract manufacturing sets them apart in the candy industry. Their ability to efficiently fulfill large-scale production orders for renowned candy brands has earned them a reputation for excellence. By partnering with Atlantic Candy Company, candy brands can leverage their expertise, state-of-the-art facilities, and commitment to delivering exceptional products.
Atlantic Candy Co. Candy Manufacturing Statistics
|Number of Candy Units Produced
|Number of Candy Brands Manufactured For
Atlantic Candy Company’s commitment to quality, precision, and innovation has positioned them as a key player in the candy manufacturing industry. With their impressive track record and dedication to meeting the demands of candy brands, they continue to drive advancements in the industry.
Through their reliable contract manufacturing services, Atlantic Candy Company remains a trusted partner for candy brands looking to bring their products to life. Their ability to consistently deliver high-quality candies at scale has solidified their position as an industry leader.
The Awesome Ball and its Unique Design
The Awesome Ball is a patented chocolate toy product created by Atlantic Candy Company. It consists of a two-piece plastic capsule that holds a small toy wrapped in chocolate. The design is different from previous banned products because the chocolate doesn’t completely encase the toy, making it a safer product.
The Awesome Ball has been widely sold in Europe, with the European rights owned by Ferrero. Its innovative design and delicious combination of chocolate and toys have made it a popular choice among children and parents. By incorporating safety features, Atlantic Candy Company has successfully navigated the challenges of product regulations and expectations. The European sales growth of the Awesome Ball showcases the company’s ability to create a unique and appealing product that meets both consumer demands and safety standards. The success in Europe has set the stage for Atlantic Candy Company to explore further international expansion opportunities and reach new markets with their patented chocolate toy.
The Concerns of the Sharks
During the Shark Tank pitch, the Sharks expressed their concerns regarding Atlantic Candy Company and its future prospects. These concerns revolved around several key areas that could potentially impact the company’s success and profitability. Let’s take a closer look at the specific concerns raised by the Sharks:
- Patent Expiration: One of the major concerns mentioned by the Sharks was the pending expiration of Atlantic Candy Co.’s patent. They feared that once the patent expires, it could lead to increased competition in the market, potentially affecting the company’s market share and profitability.
- Handling Contract Manufacturing and Retail Operations: The Sharks questioned whether Atlantic Candy Co. could effectively manage both their contract manufacturing business for major candy brands and their retail operations. This concern stemmed from the unique challenges that arise from handling both aspects of the business simultaneously.
- Lack of a Sales Force: Robert Herjavec, one of the Sharks, raised concerns about the company’s lack of a dedicated sales force, particularly in anticipation of the upcoming holiday season. A strong sales force is crucial for generating revenue and driving sales growth, making it a valid concern for the Sharks.
These concerns highlighted the potential risks and challenges that Atlantic Candy Company would need to address in order to ensure its long-term success and profitability. Overcoming these concerns would require strategic planning and effective execution of their business strategies.
The Impact of Shark Tank and Future Success
Despite not securing a deal on Shark Tank, Atlantic Candy Company has experienced significant growth and expansion in its retail presence. The exposure gained from appearing on the show has likely played a pivotal role in the company’s success. Today, their products are available in major retail outlets, further solidifying their position in the marketplace.
The Atlantic Candy Company’s journey on Shark Tank has undoubtedly had a positive impact on their future prospects. The visibility garnered from the show has increased brand recognition and helped them establish strong relationships with prominent retailers. This newfound exposure has opened doors for Atlantic Candy Company, allowing them to reach a wider audience of candy enthusiasts.
While it is challenging to quantify the exact impact of Shark Tank on the company’s success, it is evident that the show has propelled Atlantic Candy Company towards a prosperous future. Their ability to thrive without securing a deal on the show showcases their resilience and determination. As they continue to expand their retail presence and capture the hearts of candy lovers across the nation, Atlantic Candy Company is poised for even greater achievements in the years to come.
Q: What is the history of Atlantic Candy Company?
A: Atlantic Candy Company, originally known as Whetstone Candy, was founded by Jared’s father in the late 1980s. They started as a contract manufacturer for major candy brands and have since played a role in producing iconic candy products like the Hershey Kiss and M&M Hollow characters.
Q: What is the product that Atlantic Candy Company pitched on Shark Tank?
A: The product that Atlantic Candy Company pitched on Shark Tank was the “Awesome Ball,” a patented chocolate toy product. It consists of a two-piece plastic capsule that holds a small toy wrapped in chocolate. The design is unique because the chocolate doesn’t completely encase the toy, making it a safer product.
Q: Did Atlantic Candy Company secure a deal on Shark Tank?
A: No, Atlantic Candy Company did not secure a deal on Shark Tank. Despite the interest in the product, the Sharks had concerns about the pending patent expiration and the company’s ability to handle manufacturing and retail operations.
Q: What challenges did Atlantic Candy Company face after appearing on Shark Tank?
A: After appearing on Shark Tank, Atlantic Candy Company faced legal battles and the challenge of an expiring patent. However, they rebranded their product as ToyBox, introduced an FDA-approved version using organic and gluten-free milk chocolate, and expanded their retail presence in major outlets.
Q: Has Atlantic Candy Company been involved in any lawsuits?
A: Yes, in 2016, an Australian candy company that used Atlantic Candy as a contract manufacturer sued the company for million. The lawsuit alleged that Jared’s father interfered in negotiations with another contractor. The case was terminated in December 2017.
Q: Where can I find Atlantic Candy Company’s products?
A: Atlantic Candy Company’s ToyBox chocolates can be found in major retail outlets such as Walmart, Target, and Office Depot.
Q: What were the concerns of the Sharks regarding Atlantic Candy Company’s business?
A: The concerns raised by the Sharks regarding Atlantic Candy Company’s business included the pending patent expiration, which could potentially open up competition, and the company’s ability to handle both contract manufacturing and retail operations. They also questioned the company’s sales force for the upcoming holiday season.
Q: What has been the impact of Shark Tank on Atlantic Candy Company’s success?
A: While the exact impact of Shark Tank on Atlantic Candy Company’s success cannot be determined, exposure from the show likely played a role in their growth and visibility in the market. They have expanded their retail presence and estimated revenues of million as of June 2022.