Japanese food company Ezaki Glico aims to expand its confectionery business with the acquisition of US chocolate brand Tcho Ventures.
San Francisco-based Tcho, which produces a range of premium craft chocolate for snacking, gifting and cooking, is currently owned by Emil Capital Partners.
Ezaki Glico said it was attracted to Tcho’s strong brand recognition in the US, particularly among millennials, the generation which it believes has the highest purchase intent.
In a statement, Ezaki Glico said: “The overall market in the premium chocolate category is expecting strong continued growth, and by acquiring Tcho and entering this market, Ezaki Glico aims to enhance its chocolate business.”
In 2016, Tcho adopted a new packaging design from brand consultancy Bluemarlin for its Pairings line of chocolate bars.
Headquartered in Osaka, Ezaki Glico has 11 business locations and 23 group companies in Japan, and 12 subsidiaries in nine countries, employing a total of 5,210 people.
In recent years it has expanded its business 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 USA Corporation was founded in February 2003 in Irvine, California, to sell products such as Pocky and Pretz.
Source: FoodBev
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