Re:Capital, the Australian arm of UK investment company Hilco Capital, is said to have acquired Australia’s oldest chocolatier, Ernest Hillier Pty Ltd (Ernest Hillier).
According to Australian Food News (AFN), the sale comes as the former owners of Ernest Hillier’s, the Piedimonte family, focus on other business interests.
Ernest Hillier was founded in 1914 and operates under the brands Hillier’s Chocolates and Newman’s, with products sold in a variety of channels and locations across Australia.
Mark Campbell, CEO of Hillier’s Chocolates said, “We are delighted to welcome our new owners to the Hillier’s family, and see this as an exciting time full of opportunity for the business and our staff”. He continued: “For nearly 100 years we’ve built our reputation for the highest quality confections in Australia and Re:Capital is the right owner to take the Hillier’s business to the next stage of growth.”
James Turner, Investment Director for Re:Capital Australia, further added: “Hillier’s is the kind of business we enjoy working with. It has a great brand, a high-quality product and many opportunities for segment growth”.
Source: Australian Food News