Chomps Meat Snack Company Reports Growth to $900 Million Revenue

Chomps, a meat snack company founded in Naples, Florida in 2012, projects annual revenue of $900 million this year, up from $660 million last year, according to Forbes estimates. The company says it now has enough production capacity to meet demand for the estimated 2 million meat sticks it sells daily.

Cofounder and CEO Rashid Ali said the company previously operated under allocation limits that restricted how much demand it could fill.

Chomps produces meat sticks made with grassfed beef, venison, and antibiotic-free turkey. The company reports that women make up about 70% of its customers and that its products are sold in approximately 50,000 retailers including Walmart, Target, Costco, Kroger, Publix, and H-E-B.

Ali and cofounder Pete Maldonado control the majority of the company. Forbes estimates place the company's value above $1 billion. Maldonado holds an estimated 35% stake and Ali holds an estimated 20% stake.

Forbes estimates Chomps' 2025 EBITDA at about $50 million, representing a margin of roughly 7%. The company has been profitable since its first 30 days of operation, though profitability is affected by manufacturing costs and ingredient prices. Maldonado, who moved from co-CEO to chairman last year, said the company has now reached a production level where it can determine its full growth potential.

The cofounders met in Chicago and initially started the business with $3,250 each.