Ezaki Glico: Acquires TCHO Ventures

San Francisco / CA. (tcho) TCHO Ventures Inc., the award-winning, premium chocolate maker, announced its sale to Japanese food conglomerate Ezaki Glico Company Limited. The innovative craft chocolate company was majority owned by Emil Capital Partners, a Growth and Venture Capital firm European retail giant Tengelmann Group. Emil Capital is an entrepreneurial private investment company based in Greenwich, Connecticut that seeks out companies whose products connect with the New American Consumer. Emil Capital initially invested in TCHO back in 2013, working with the company over a period of five years to support innovation, accelerate growth and improve customer experience. This exciting transaction is the product of that successful financial and strategic partnership. Emil Capital looks forward to watching TCHO continue to thrive and grow under the Glico group.

«Today’s agreement brings together two companies that share a core philosophy of quality products and social values», said Marcel Bens, Chief Executive Officer for TCHO. «TCHO has a unique approach to sourcing, flavor and packaging – we work with farmers and cooperatives to help them produce better cocoa which is designed to benefit them and helps us make exceptionally delicious chocolate. Ezaki Glico is a company that understands, appreciates and will continue to support that business model. We couldn’t be more pleased to be joining their family».

Ezaki Glico Company Limited is a leading food company headquartered in Osaka, Japan. It has 11 business locations and 23 group companies in Japan, and 12 subsidiaries in nine countries. Ezaki Glico operates a total of 19 plants and has 5’210 employees over the world. Since the launch in 1922 of the nutritious and fortified Glico caramel in its distinctive red box, the business activities of Ezaki Glico have adhered to the corporate philosophy of «Enhancing Public Health Through Food». Upon the 70th anniversary of Ezaki Glico in 1992, this same spirit and dedication has been incorporated into the revised corporate philosophy of «A Wholesome Life in the Best of Taste». Glico caramel – the company’s first product – incorporates the innovative creativeness of Mr. Riichi Ezaki, the company’s founder. From the beginning, all personnel working for the company have been dedicated to further enhancing people’s health and quality of life. This has led to the expansion of business lines beyond confectionery to include ice cream products, processed foods, desserts, milk products, baby formula, food ingredients and ingredients for cosmetic and health products. Ezaki Glico has generated consolidated sales of JPY353.2 billion in FY 2016. Ezaki Glico’s business covers 30 countries and areas in Asia, the South Pacific, North America and Europe. In USA, Ezaki Glico USA Corporation was founded in February 2003 in Irvine, Texas.

This transaction comes at a perfect moment in both TCHO’s development and in the chocolate industry’s evolution. The American consumer base is awakening to the idea of chocolate being more than candy and is demanding a more sophisticated product. Similar to what is seen in coffee, wine, beer and cheese, the diversity of chocolate offerings has exploded. In recent years TCHO has continued to innovate, launching new flavours and formats at a regular cadence which has helped the company increase its distribution throughout the US, in some of the country’s largest retailers and food service distributors. During this time TCHO has also been adding key members to its team behind the scenes to support its accelerated growth. «The acquisition of our product by Ezaki Glico will give us an even stronger foothold in the market», said Bens. «We’re thrilled to be joining their strong product portfolio, which will undoubtedly help catapult TCHO to the next level».

bakenet:eu