Yowie Group has completed the acquisition of Ernest Hillier, an Australia-based chocolate maker that recently entered voluntary administration. The deal, valued at A$375,000 ($242,476), includes the leased plant in Coburg North, along with all equipment and intellectual property related to Ernest Hillier’s brand. Yowie plans to apply for a new facility lease as part of the transaction. WLP Restructuring Partners had been seeking a buyer for Ernest Hillier after the company faced challenges from rising raw material and shipping costs.
Established in the UK in 1914 before relocating to Australia, Ernest Hillier supplied the local and New Zealand markets and offered co-manufacturing services to other confectionery companies. Yowie Chairman Sean Taylor emphasized the significance of the acquisition, stating, “Preserving an iconic Australian manufacturing business like Ernest Hillier aligns with our objective of expanding our product range and ensuring greater control over production.”
Headquartered in Perth, Australia, Yowie promotes learning, understanding, and engagement with the natural world through its chocolate products, featuring characters such as Rumble and Squish. The company outsources production and distribution. The acquisition of Ernest Hillier will not only expand Yowie’s premium chocolate range but also provide the capacity to produce energy snack bars.
In its preliminary third-quarter results, Yowie reported a 10% decline in year-to-date sales to $10.6 million. The company attributed the decrease to cautious consumer and retailer behavior amidst an uncertain economic environment. Despite this, Yowie achieved sales of $15.6 million in the previous financial year, representing a 24% increase.
