Megan and Scott Reamer have grown their business after the Shark Tank deal, valuing Jackson’s Honest Chips to just over $30 million in 2023.
Introduction
There are millions of products that are born out of necessity; they don’t say “necessity is the mother of all inventions” for no reason. One of these products is Jackson’s Honest chips.
A family discovered that a high-fat, low-carb diet helped their son Jackson’s rare autoimmune disorder. They missed snack foods, so they made delicious chips by cooking sweet potatoes in coconut oil. They started a snack company named after Jackson to share their healthy treats and continue his legacy.
The responsible parents Megan and Scott Reamer came up with some coconut-fried tortillas and potato chips for their son. The story is inspirational and so is this unique product. Most of us came to know about Jackson’s Honest from that Shark Tank episode, while others are just wondering how the company is doing after the Shark Tank deal.
In this article, we will be taking a closer look at Jackson’s Honest chips, how are the entrepreneurs doing, and how much Jackson’s Honest is worth in 2023.
Jackson’s Honest Chips – How was it Born?
The multi-million dollar business started when Jackson got a rear disease and couldn’t have many options for each. Upon trying different things, the parents found out that Jackson’s condition was improving if he had a low-carb and high-fat diet.
Image Source: Chris Miller (CNBC)
Hence, they started cooking everything for Jackson in pure coconut oil. From his food to his everyday snacks, everything was cooked and fried in coconut oil.
One of those snacks was chips. When they first cooked potato chips in pure coconut oil, Jackson loved its taste. Not only was it tasty but also quite nutritious due to the unique properties coconut oil possesses.
How Healthy are Jackson’s Honest Chips?
Well, the snacks are super-healthy and fit for those who can’t eat unhealthy junk food. According to their official website, Jackson’s Honest Chips are:
- Vegan
- Gluten-Free
- Paleo Friendly
- Peanut Free
- Kosher
The taste was good and the parents started serving these delicious chips to their close friends and relatives. And guess what? They loved it too. They loved it so much that they convinced the parents to start selling them and build a business out of them.
And so was born Jackson’s Honest, a multi-million dollar business that was there to take on the snacks industry in the United States.
“More than 8 million people will have heard about our family’s journey, and as a result will understand what an inspiration our son Jackson has been to us every single day for the last 16 years,” stated Scott and Megan Reamer in an interview with CNBC.
Jackson’s Honest – The Shark Tank Deal
Founded in 2012 by Scott and Megan Reamer out of their son’s rare disease, Aicardi–Goutières syndrome, Jackson’s Honest was born so that every son in the United States has access to healthy and nutritious snacks.
Even before going to Shark Tank, Jackson’s Honest was already a multi-million dollar business. According to founder Scott Reamer’s valuation, Jackson’s Honest was worth $25 million at the time of the Shark Tank episode, in 2017. However, the valuation would be countered by the Sharks, and here’s how it went
At first, entrepreneurs Scott and Megan Reamer asked for $1.25 million for a 5% stake in their healthy snacks company, valuing Jackson’s Honest at a whopping $25 million. The Sharks, on the other hand, had another stance about the valuation.
The guest shark Rohan Oza closed the deal and invested $1.25 million for a 15 percent stake in the company; the deal valued the company at just over $8 million.
Image Source: CNBC YouTube
Even though the company was a multi-million dollar business, the entrepreneurs revealed that they weren’t generating any profits, despite selling $10 million worth of products in 2016. Nevertheless, Rohan Oza believed in the business and was positive that the company’s exceptional sales will only be a matter of time before they start making hefty profits.
“This company, this mission, has really become Jackson’s legacy, and we want to honor that, and support it and continue to show our passion and determination and inspiration around Jackson himself,” said Megan Reamer.
How is Jackson’s Honest Chips Doing in 2023
After the entrepreneurs got a $1.25 million deal from Shark Tank, the business has been generating more sales apparently. The business grew so much that Megan and Scott Reamer were featured in a CNBC interview.
The Shark Tank deal and the CNBC interview boosted the business and according to UberSuggest, the website is visited by over 15,000 unique monthly users. But the business isn’t online at all, all of their products are sold in grocery shops.
Jackson’s Honest Chips Networth in 2023
After valuing the company at $8 million in the 2017 Shark Tank deal, Jackson’s Honest Chips has been a growing business. In 2023, Jackson’s Honest Chips is worth over $30 million, just as the founders projected in the 2017 Shark Tank episode.
However, the net worth of the entrepreneurs might not be the same as their business; the reason why is that they don’t fully own the business. In the Shark Tank episode, Scott Reamer revealed that they had raised some money from friends and family and the couple owns 67% of the company.
After the Shark Tank deal worth $1.25 with Rohan Oza, the shark bought 15% of the company, leaving the couple at just over half the company’s stake.
Taking into consideration the valuation and the overall revenue, the Reamers are worth just over $15 million in 2023, half of what Jackson’s Chips is worth.
Final Words
In 2023, Jackson’s Honest Chips is worth over $30 million. The company makes vegan chips that are healthy and nutritious. They started the business in 2012 after their son was diagnosed with an autoimmune disorder that improved through a low-carb, high-fat diet.
In 2017, they went on Shark Tank and got a $1.25 million investment. The business is growing and gets 15,000 unique users on its website each month. Although the company is worth over $30 million, the Reamers do not own it completely and are worth half of it.
Frequently Asked Questions (FAQs)
Is Jackson’s Honest still in business?
Yes, Jackson’s Honest Chips is still in business as of 2023. The company has apparently been growing and is now worth over $30 million.
What is Jackson’s honest annual revenue?
As the company expanded, they established their own manufacturing plant in Wisconsin and began producing potato chips at a rate of 110 bags per minute. Based on this growth, it is estimated that their revenue will exceed $20 million by the year 2023.
Who owns Jackson Honest chips?
Jackson’s Honest Chips is owned by Scott and Megan Reamer (52%), and Rohan Oza (15%), and the rest of the company (33%) is owned by some of their friends and family who initially invested in the business.
What is the story behind Jackson’s chips?
The Reamers found that their son’s autoimmune disorder improved with a low-carb and high-fat diet, so they cooked everything for him in pure coconut oil, including potato chips. Their friends and relatives loved the chips, so they decided to sell them. The business grew and became worth $25 million in 2017, with a Shark Tank investment of $1.25 million. Now in 2023, the company is worth over $30 million
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