Ezaki Glico Acquires TCHO

SAN FRANCISCO, Feb. 20, 2018 /PRNewswire/ -- TCHO (pronounced "CHO"), the award-winning, premium chocolate maker, announced its sale to Japanese food conglomerate Ezaki Glico. The innovative craft chocolate company was majority owned by Emil Capital Partners, a Growth and Venture Capital firm backed by European retail group Tengelmann.  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 Co., Ltd. is a leading food company headquartered in Osaka, Japan. With 11 business locations, 23 group companies in Japan, and 12 subsidiaries in nine countries, Ezaki Glico operates a total of 19 plants with over 5,000 employees.  Since their launch in 1922 of the nutritious, fortified Glico caramel, the business has adhered to the corporate philosophy of "A Wholesome Life in the Best of Taste".

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 flavors 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."

About TCHO
TCHO is an award-winning craft chocolate maker based in Berkeley, California.  Known for its bold packaging designs, innovative supply chain, and playful flavors, TCHO has also solidified itself as a pioneer in sustainable and ethical sourcing.  Its one-of-a-kind sourcing program, TCHO Source, partners directly with farmers, cooperatives, and cocoa scientists from around the world to provide the tools and training needed to produce best-in-class cacao at scale.  While it ventures to Peru, Ecuador, The Dominican Republic, Madagascar, and Ghana to source its cacao, TCHO manufactures all its chocolate locally in its factory in Berkeley, just across the bay bridge from San Francisco.  TCHO's offerings range from single-origin dark chocolates to innovative flavored bars, to a full line of chocolates designed for professional chefs.

SOURCE TCHO Chocolate