The founders of Jackson’s Honest, Megan and Scott Reamer, pitched their gluten-free and nutrient-packed corn and tortilla chips that were fried in organic coconut oil on an episode of “Shark Tank.”
Megan and Scott Reamer are the founders of Jackson’s Honest.
They were inspired to do so after their son Jackson was diagnosed with a rare condition, and they became aware of the benefits of consuming good fats.
They made the decision to fry their own potato chips in coconut oil, and when they did so during dinner parties, their friends and relatives insisted that they should sell the chips commercially.
You can find Jackson’s Honest snacks in more than 5,000 places across the country, including Whole Foods, Fairway, and Publix.
They claim that their Sweet Potato chips are their most popular product, followed closely by their Purple Heirloom and their Sea Salt chips.
Their flavored tortilla chips are fast approaching the sales of their unflavored tortilla chips, especially the Organic Lime & Sea Salt and Organic Salsa Fresca varieties.
You might be interested in learning about Jackson’s Honest Shark Tank Update since it appeared on Shark Tank.
What Is Jackson’s Honest?
Jackson’s Honest is the brand of potato and tortilla chips fried in organic coconut oil.
Jackson’s Honest offers organic coconut oil-based tortilla chips and potato chips. They come in various flavors, including sea salt, sweet potato, barbecue, fresh sauce, maple cinnamon, etc.
Jackson’s Honest tortilla chips and potato chips are made using only real, “honest” ingredients, including coconut oil, which Megan and Scott Reamer believe helped their son with the Aicardi-Goutières syndrome.
Additionally, the company uses potato varieties with high nutritional value and fries their chips at a low temperature for an extended time. This keeps the molecule integrity of the coconut oil.
This not only produces a chip with a taste that is more accurate to its flavor, but it also helps to protect the chip from oxidative damage that could be harmful.
|Company Name||Jackson’s Honest|
|Entrepreneur||Scott Reamer and Megan Reamer|
|Product / Business||Coconut oil-based chips made from organic potatoes and tortillas|
|Investment Asking For||$1.25 million for 5% equity in Jackson’s Honest|
|Final Deal||$1.25 million for 15% equity in Jackson’s Honest|
|Episode||Season 9 Episode 2|
|Business Status||In Business|
Who Is The Founder Of Jackson’s Honest?
Megan Reamer and Scott Reamer is the founder of Jackson’s Honest.
Jackson’s Honest Before Shark Tank
Jackson’s Honest is a company that produces potato chips and tortilla chips prepared from organic coconut oil and specializes in the production of organic potato chips. Scott and Megan Reamer founded Jackson’s Honest.
The couple’s son, Jackson, who had been experiencing unexplained symptoms for twelve years before his diagnosis in 2015 with the extremely uncommon autoimmune disorder known as Aicardi-Goutieres syndrome, served as the impetus for the couple to establish the company in 2012.
Their doctors advised the couple that controlling his diet was the most effective strategy to cure his illness after receiving the diagnosis.
They used a lot of trial and error, including testing out many different recipes until they figured out that a diet high in healthy fats was the best way to proceed.
They ultimately began making their potato chips and frying them in organic coconut oil, transforming them into a more nutritious alternative to traditional potato chips.
The Reamers began selling their homemade chips on the internet in 2012 after receiving support from family members and friends who loved the snacks.
Their efforts paid off, even though developing their brand was challenging.
The chips were in demand in the United States and several other countries across the globe within three months of their introduction.
They upgraded the company the following year to a small commercial kitchen, and then in 2013, they secured their first manufacturing facility.
They did not have to wait for very long to secure their first transaction with the shop Natural Grocers. They were able to sell more than one million dollars worth of chips in less than a year.
As a result, the company ended up hiring a small team of employees, with whose help they could earn a revenue of ten million dollars.
They started working together with other well-known retailers like Sprouts and Whole Foods as their company proceeded to expand and become more successful.
Finally, in June of 2017, Scott decided to spend his full attention on this endeavor and resigned from his day job.
The company’s founders, who were intent on expanding it even further, eventually succeeded in securing a position on the reality series Shark Tank, which airs on ABC.
On October 1, 2017, the episode was broadcast on television as part of the season premiere, which ran for two hours.
Sadly, Jackson passed unexpectedly on August 13, 2017, not long after the taping was completed; he was only 50 years old.
How Was The Shark Tank Pitch Of Jackson’s Honest?
Megan and Scott appeared on Shark Tank seeking an investment of $1.25 million in exchange for a 5% equity in Jackson’s Honest.
Megan and Scott shared the valuation of Jackson’s Honest to be $25 million while appearing on Shark Tank.
Rohan Oza who was a guest Shark on the show was concerned when he saw their low sales at Whole Foods.
Robert Herjavec told Megan and Scott their product had great branding and packaging, but their sales at Whole Foods were low. Rober was out.
Lori Greiner was not interested to invest in Jackson’s Honest, even though baked chips are her favorite. Hence, she is out.
Mark Cuban is concerned that the profit margins will not expand at a rate that will allow him to see a return on his investment. He is also out.
Barbara Corcoran said the supermarket industry is known for eating other businesses alive. Hence, she is not ready to invest in Jackson’s Honest.
However, Rohan Oza is concerned about the valuation even though he believes the completion of the project has been excellent.
Rohan Oza thinks they’ve done a great job but he’s concerned with the valuation. He’s willing to give them an offer and he feels the value he brings will justify the offer.
He offered an investment of $1.25 Million for a 20% stake in Jackson’s Honest.
Megan and Scott were not ready to give so much stake in the company. They countered with $1.25 Million for a 7.5% stake in Jackson’s Honest.
Rohan Oza shared his experience about how he took Pop Chips from $4 Million to $80 Million in 3 years.
He offered the couple an investment of $1.25 Million for a 17.5% stake in Jackson’s Honest.
However, Megan and Scott were not ready to give up a 17.5% stake in Jackson’s Honest.
Hence, the couple again countered with $1.25 Million for a 10% stake in Jackson’s Honest.
Rohan didn’t like the counter offer made by Megan and Scott and gave his final offer of $1.25 million for a 15% stake in Jackson’s Honest.
Megan and Scott thought for a while and finally accepted Rohan Oza’s offer of $1.25 million for a 15% stake in Jackson’s Honest.
Final Deal: Rohan Oza agreed to invest $1.25 million for a 15% equity in Jackson’s Honest.
What Happened To Jackson’s Honest After Shark Tank?
Sadly, Jackson, the Reamers’ son, lost his battle with his illness just a few short months after the taping of the episode.
They continue to be committed to carrying on his work to this day, and his family continues to invest their time, energy, and resources into the business.
The business’s founders claim that they received a flood of calls, reviews, and emails from new clients when they were featured on the show.
They have also been able to step up their game in numerous dimensions thanks to the assistance of their investor, Rohan Oza.
The process includes various aspects, including packaging, strategy, branding, marketing, and funding.
Jackson’s Honest has now introduced a new line of grain-free puffs, among the many products they have recently released.
There are three flavors of the gluten-free snack available right now: cheddar cheesy, spicy cheddar, and sweet potato crunchy.
They are just as healthful as the rest of their range of chips, but they don’t have any corn, rice, or vegetable oil.
They can be purchased, along with the company’s other products, either online through its website or from merchants located all around the country.
There has been an increase in the number of laudatory remarks that the company has received during the past year. They have received four stars or higher ratings for most of their potato chips on Amazon.
A closer review of the reviews indicates that most customers are satisfied with the snack; however, some have suggested that the price point may be high.
A similar rating is also recorded on the company’s official Facebook page, which is available for your viewing here.
Jackson’s Honest Shark Tank Update
The deal between Jackson’s Honest and Rohan Oza was finalized after the show.
Jackson’s Honest saw a huge boom in its sales after its appearance on Shark Tank.
Megan and Scott capitalized on their appearance and even signed contracts with other vendors for the distribution of Jackson’s Honest.
Jackson’s Honest began selling grain-free puffs at the same time the company changed its name to Jackson’s-the Super Snack in 2018.
As of May 2022, Jackson’s Honest is available in all Whole Foods locations and generates more than $6 million in annual revenue.
Is Jackson’s Honest Still In Business?
Yes, Jackson’s Honest is still in business as of May 2022, with annual revenue of $6 million.
What Is the Net Worth Of Jackson’s Honest?
The valuation of Jackson’s Honest when it appeared on Shark Tank was $25 million.
The net worth of Jackson’s Honest as of May 2022 appears to be around $10 million.