Yowie Group is set to acquire Australian confectioner Ernest Hillier Chocolates for $375,000 under an asset purchase agreement.
As part of the arrangement, Yowie will acquire the business-owned plant and equipment and the intellectual property of Ernest Hillier including its business names and brands.
Yowie Group chairman Sean Taylor said the acquisition represents an “important step” and added it enables the business to “preserve an iconic Australian chocolate manufacturing business with significant heritage value and capability”.
“The addition of the Ernest Hillier business enables us to further expand our product range of premium Australian chocolates, providing greater control over the production of our products.”
Established in 1914, Ernest Hillier Chocolates is Australia’s oldest chocolate brand and operates a manufacturing facility in Coburg, Victoria. Its Ernest Hillier and Newman’s brands have been stocked across supermarkets for many years.
In June, the chocolate maker entered into voluntary administration and appointed administrators Alan Walker and Glenn Livingstone from WLP Restructuring Partners to help recapitalise or sell the business’ assets.
