$100-M Popsicle Firm Pushes "Healthier" Business

In just 13 years, Forbes 30 Under 30 alums Erik Brust and Connor Wray have turned their popsicle company, JonnyPops, into one of the fastest-growing brands in the frozen aisle.

JonnyPops is the top-selling frozen novelty brand among natural grocers. I Photo: JonnyPops Facebook

Roughly 60% of the company’s estimated $100 million in annual sales occur during the six hottest months of the year, Brust told Forbes Daily.

The brand—which has reportedly been profitable since its inception—now earns an estimated 30% net margin. It’s the top-selling frozen novelty brand among natural grocers, a category that grocery data provider Spins values at nearly $7 billion in annual retail sales.

Brust and Wray, who co-founded JonnyPops in their dorm room at St. Olaf College, about an hour south of Minneapolis, have bootstrapped the company with support from friends and family—eschewing private equity funding.

“We don’t chase fads,” Brust said. “We’re thinking about what the next decade looks like. This was never a grow-the-business-to-sell-it type idea.”

Even so, if they did decide to sell, JonnyPops could fetch around $300 million or more—even in a cooling market for food deals. Mainstream brands like Dove and Klondike have been struggling as health-conscious consumers gravitate toward cleaner labels.

Their parent companies—Mars and Unilever—may see JonnyPops as a key to future growth.

“JonnyPops is riding the MAHA wave since its recipes have no artificial colors and use cane sugar instead of artificial sweeteners,” noted Forbes staff writer Chloe Sorvino.

“But around 60% of grocery stores nationwide have yet to carry even one of their popsicles—including Walmart.” Brust and Wray believe they can double their footprint, but say the growth will come incrementally over several years.