Darrell Lea gobbles up Heritage Fine Chocolates
25 October 2018, Written by Paris Faint
Darrell Lea has acquired confectioner Heritage Fine Chocolates in a move to satisfy its sweet tooth for new products and grow its footprint in Melbourne.
The beloved chocolatier expects its "bold plans for manufacturing" will be easier to achieve following the acquisition which will create as many as 50 new jobs within the next year.
CEO of Darrell Lea Tim York says the future of the 91-year old brand is looking brighter as its manufacturing presence grows beyond the New South Wales border.
"Until now, we have always been viewed as a Sydney company but with manufacturing expansion into Victoria we can forge stronger relationships with our retailers and consumers," says York.
"There are wonderful synergies between Darrell Lea and Heritage which present exciting opportunities for us to expand our footprint into new categories and with more products."
The Heritage acquisition comes just three months after Darrell Lea, backed by its majority owner Quadrant Private Equity, bought the well-known Life Savers brand from Nestle.
Quadrant bought a majority stake in Darrell Lea for $200 million from the Quinn family in early 2018.
Darrell Lea says all current Heritage staff will retain their jobs and the first production of its sweets in Melbourne will commence in early 2019.
The Heritage Fine Chocolates brand was established 35 years ago and in 1990 the business was purchased by Michael Simons.
Both Heritage and Darrell Lea have worked together in the past to manufacture Easter eggs.Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.
Business News Australia
Author: Paris Faint