During its appearance on Season 4 of Shark Tank, Ice Chips Candy caught the attention of fans and investors as a new and interesting candy.
People who have to follow certain diets know that the food business still needs to work on making our favorite foods with different ingredients.
Companies like Ice Chips Candy have done what they can to help by making sweets without sugar that use other sweeteners.
In 2012, they brought their sugar-free, diabetic-friendly candy to “Shark Tank” with the hope that the Sharks could help them make more of it by turning their hand-made candy into machine-made candy.
The two asked for a $250,000 investment in exchange for 15% ownership, and a deal was eventually made. Where is Ice Chips Candy now?
Ice Chips Candy on Shark Tank
Ice Chips Candy, created by entrepreneurs Beverly Vines-Haines and Charlotte Clary, gained significant attention after their appearance on Shark Tank during Season 4.
They pitched their product, a sugar-free candy made with xylitol, seeking $250,000 for 15% equity in their company. The pitch was well-received, leading to a bidding war among the sharks.
Ultimately, they accepted an offer from Mark Cuban and Barbara Corcoran for $250,000 in exchange for 40% equity. Despite the excitement, the deal did not close post-show due to disagreements on business structuring.
However, the exposure from Shark Tank resulted in a substantial sales boost; Ice Chips sold over $300,000 worth of candy shortly after the episode aired. This surge allowed them to invest in manufacturing equipment and expand their product line.
As of December 2022, Ice Chips Candy reportedly generates around $5 million in annual revenue and has grown its flavor offerings to 22 varieties.
The founders, who refer to themselves as “grannies in a garage,” had previously found success with other health-oriented products before launching Ice Chips.
Their candy is particularly popular among health-conscious consumers, including diabetics and those looking for low-sugar options, and has received endorsements from dentists due to its cavity-preventing properties.
Ice Chips Candy Net Worth in 2024
As of 2024, According to Mashed, Ice Chips Candy is estimated to generate annual revenue of approximately $5 million.
The company, founded by Beverly Vines-Haines and Charlotte Clary, has successfully expanded its product line to include 22 different flavors of sugar-free candy made with xylitol, appealing to health-conscious consumers, including those with dietary restrictions such as diabetes.
While the entrepreneurs originally sought a $250,000 investment in Shark Tank, the deal with Mark Cuban and Barbara Corcoran ultimately did not close.
Nevertheless, the exposure from the show significantly boosted their sales, leading to over $300,000 in orders shortly after their episode aired.
This success allowed them to invest in manufacturing equipment and improve production efficiency, contributing to their sustained growth.
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Who found Ice Chips Candy?
Ice Chips Candy was founded by Beverly Vines-Haines and Charlotte Clary. The two entrepreneurs, who became friends in 1986, developed the candy in 2009 as a sugar-free alternative using xylitol, a sweetener known for its dental benefits.
Their goal was to create a candy that was safe for diabetics and enjoyable for their grandchildren. Before Ice Chips, they had engaged in various entrepreneurial ventures together, including skin care products and other small businesses.
Is Ice Chips Candy still in business?
It’s not a wonder that Ice Chips Candy is still selling its sugar-free candies in 2023. Ice Chips now come in 22 flavors, such as menthol eucalyptus, strawberry daiquiri, and root beer float. You can buy different amounts of each taste, ranging from three-packs for $18.85 to twenty-four-packs for $133.05.
On top of that, Ice Chips sells mixed six-packs for $35.95.The company now sells a whitening tooth powder for $11.95, along with its original Ice Chips.
The powder is made of xylitol, Himalayan salt, and different essential oils. Dentists don’t seem to support it as much as they do Ice Chips candies, but no one seems to be slagging it either.
Ice chips can now be bought on Amazon (where they have an average review of 4.5 stars) and in stores like Walmart. From what we know, the business makes around $5 million a year in sales, which shows that it didn’t need the Sharks’ help to be successful.
What’s next for Ice Chips?
We can only assume that Charlotte Clary and Bev Vines-Haines will keep making sugar-free treats since they started Ice Chips to give their grandchildren sweets that are good for their teeth. Also, as they did with “Finding Dory” in 2016, they could keep working with other companies to support kids’ movies.
The company doesn’t seem to have any plans right now, but Ice Chips is still teaching its social media fans about the health benefits of xylitol. Xylitol may help with dental health, for example, and it may also help stop ear infections and dry mouth.
But it’s important to remember that sugar-free treats have some bad effects, like the fact that xylitol is very dangerous for pets.
According to Cornell University, even small amounts of xylitol can damage the liver, cause seizures, and make people lose their balance. Keep xylitol-containing goods out of reach of children.
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