Atlas Monroe Shark Tank Update (Season 11)

Atlas Monroe is a San Francisco-based vegan foods business that offers a variety of plant-based options, including succulent ribs, Cajun fried chicken, deep-fried stuffed turkey rolls, and more.

The company uses organic wheat and other plant-based ingredients to create its vegan dishes, aiming to provide meat alternatives. With over 40 locations across the United States and Canada, Atlas Monroe also offers drinks and other vegan foods.

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Who Is The Founder Of Atlas Monroe?

Atlas Monroe was co-founded by Jonathan Torres and Deborah Torres, who come from different backgrounds.

The idea for the company arose after their father was diagnosed with type 2 diabetes, prompting the entire family to adopt a strict diet of natural and vegan foods.

After following this diet for 90 days, they became passionate about plant-based foods, leading to the creation of Atlas Monroe.

How Was The Shark Tank Pitch Of Atlas Monroe?

Jonathan and Deborah Torres appeared on Shark Tank seeking $500,000 for 10% equity in their business. They presented their Vegan Fried Chicken to the sharks and shared their story.

The company ships frozen vegan foods nationwide. However, the sharks were confused by the Torres’ vague sales figures. They mentioned making $45,000 but did not clearly explain their total sales.

Kevin O’Leary declined to invest, stating that the business wasn’t worth $500,000. Mark Cuban, who had recently become a vegetarian, offered a $500,000 line of credit in exchange for 30% equity.

Deborah declined this offer, stating that they were making $12,000 in 24 hours and projected $2.4 million in sales for the last three months of 2019, with expectations of $30 million in sales for 2020.

Lori Greiner also dropped out, citing the sales numbers as unrealistic. Mark Cuban and Rohan Oza teamed up to offer $1 million to acquire the company, offering Jonathan and Deborah 10% royalties. Deborah ultimately declined this offer but showed interest in Mark’s first offer.

Finalize: Atlas Monroe didn’t get a deal on Shark Tank.

Atlas Monroe Shark Tank Update

Although Jonathan and Deborah declined the $1 million acquisition offer from Mark Cuban and Rohan Oza, the company has seen significant growth since its Shark Tank appearance.

In 2021, they opened a 10,000-square-foot, multi-million-dollar manufacturing facility in San Diego, California. By April 2021, the company met its $2 million target and is now projecting annual sales of $24 million.

In early 2022, Atlas Monroe expanded into Canada through a partnership with Copper Branch.

The vegan brand’s Nashville Chicken Sandwich was launched in Canadian restaurants, and by February 2022, it had expanded to over 40 locations across North America. In December 2022, the company’s annual revenue was estimated at $5-$10 million.

As of February 2023, Atlas Monroe’s frozen vegan foods are available at major grocery stores, and the company continues to expand its presence through restaurant chains.

What Is The Net Worth of Atlas Monroe?

When Atlas Monroe pitched its business on Shark Tank, it was valued at $5 million, though no investment was secured. Despite declining the $1 million offer from Mark and Rohan, the company’s growth trajectory suggests a current estimated worth of $10 to $20 million.

The company continues to expand, and with its growing popularity in the vegan market, it is poised to become a significant player in the U.S. and beyond.

Yes, Atlas Monroe is still in business as of April 2024.