Jared Whetstone hopes to get a sweet deal with a Shark when he pitches his Atlantic Candy Company in Shark Tank episode 803. Whetstone works in his family business. Originally called Whetstone Candy, the company was founded in the late 1980's by Jared's dad, Hank Whetstone Jr. The elder Whetstone is a pioneer in the candy manufacturing industry.
They moved to their current state of the art factory in St. Augustine, Florida in 1997 with their primary business being a contract manufacturer for Nestle, Hershey, Mars and other candy brands. They company was involved in the creation of machinery that produces the Hershey Kiss, Hershey Nugget, M&M Hollow characters and more. Their factory has the capacity to produce 40 million units per year and is expanding to 160 million units in 2017.
Their newest product is “the Awesome Ball,” a patented chocolate toy product. Henry Whetstone owns the patent. Nestle came out with a similar design in the early 2000's, but the FDA shut the product down due to safety concerns. The Awesome Ball is a two piece plastic capsule that holds a small toy which is wrapped in chocolate. What differentiates the Atlantic Candy Company design is it is “a safe product design.” They are widely sold in Europe – a company called Ferrero owns the European rights.
Mr. Whetstone is expanding his capacity fourfold. He likely needs a lot of cash to fund expansion. Will a Shark think this is a sweet deal?
Atlantic Candy Company Shark Tank Recap
Jared will pitch the panel of five Sharks on the business and its prospects for growth. He’ll need to convince Mark Cuban, Daymond John, Kevin O’Leary, Lori Grenier, and Robert Herjavec that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but he’ll need to show them HE is capable of running the company to “Shark standards.” A full pitch re-cap on Atlantic Candy Company will be available on Shark Tank Blog once this episode airs.
Atlantic Candy Company Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on Atlantic Candy Company and Jared Whetstone as more details become available.
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Atlantic Candy Company Company Information