Tricor Pacific Founders Capital, a Canadian private equity firm launched in late 2014, has acquired Totally Chocolate LLC, a North American manufacturer of precision-engraved chocolate for corporate and special event uses. No financial terms were disclosed. The investment in Blaine, Washington-based Totally Chocolate was made by Ganache Gourmet Inc, a new vehicle set up to hold the company and other confectionery-related assets acquired in the future. Ken Strong, Totally Chocolate’s president, will continue to lead the company alongside Tricor Founders’ Richard Harris as executive chairman. Founder Jeff Robinson will become a director on the company’s board, as will Tricor Founders’ Derek Senft.
Tricor Pacific Founders Capital Inc. Acquires Totally Chocolate LLC
Vancouver, BC – 3 February 2016.
On February 3rd, Tricor Pacific Founders Capital Inc. (“Tricor Founders”) successfully acquired Totally Chocolate LLC (“Totally Chocolate” or the “Company”) from founder and entrepreneur, Jeff Robinson. Founded in 1987 and based in Blaine, WA, Totally Chocolate is a leading North American manufacturer of precision-engraved chocolate. The Company creates exclusive customer-specific molds and packaging options to make one-of-a-kind corporate and personal gifts, as well as other promotional items. The Company’s product range extends to numerous sizes and formats (e.g., bars, assortments, cookies, etc.), as well as edible M&A ‘tombstones’. All chocolate products are made with 100% Belgian chocolate.
Tricor Founders has made its investment in Totally Chocolate through Ganache Gourmet Inc. (“Ganache Gourmet”), a new company formed to hold Totally Chocolate and other future, chocolate and confectionery-related investments. Totally Chocolate’s founder and former owner, Jeff Robinson, said about the transaction, “I found the right new owner in Tricor Founders. They bring the right industry-specific skill set to help take Totally Chocolate to the next level and ensure it remains a successful Washington State-based business over the long term.”
Derek Senft of Tricor Founders said about the transaction, “The investment is consistent with our strategy of making control investments in food and other consumer packaged goods businesses, with EBITDA of $2 to $8 million, across the Mid-West and Western USA and Canada. We find a lot to like in the candy and chocolate industry and expect to make further acquisitions in the industry, whether to hold and manage separately, or to be integrated with Totally Chocolate.”
Post-closing, Totally Chocolate’s President, Ken Strong, will continue to lead the Company alongside Richard Harris as Executive Chairman. Founder and entrepreneur Jeff Robinson will become a Director on the Company’s Board, alongside Richard Harris and Derek Senft. Tricor Founders, through Ganache Gourmet, is interested in expanding the Company’s customer base and sales channels, extending the Company’s product capabilities and offerings, and acquiring other chocolate and confectionery businesses that improve overall relevance of Tricor Founders owned businesses to customers.
Collins Barrow provided transaction advisory services to Tricor Founders, Bryan & Company acted as solicitor for Tricor Founders, and Bank of Montreal provided financing.
Background on Tricor Pacific Founders Capital Inc.
Tricor Founders is a family firm that combines 25 years of private equity experience in over 75 companies with deep operating knowledge. We do not manage institutional capital, but rather invest our own funds and focus on applying operating know-how in order to build thriving organizations over the long term. Our strategy is to make control investments in food and other consumer packaged goods businesses, with EBITDA of $2 to $8 million, across the Mid-West and Western USA and Canada.
We believe we are a unique buyer that combines a respect for the founder, an industry-focused investment strategy, an industry-specific operating expertise, a long track record of transacting with certainty, and an explicit intention to hold investments indefinitely. For further information, please visit www.tricorfounders.com.
For more information on this transaction please contact Richard Harris, Managing Director (firstname.lastname@example.org) or Derek Senft, Managing Director (email@example.com).
More Information on Totally Chocolate LLC
Totally Chocolate is North America’s leader in customer-specific, precision-engraved chocolate for business, holiday and other event-driven use. The Company produces fully customizable chocolate gifts through the use of exclusive short-run molds, which are manufactured entirely in-house, and sells to its customers located across the U.S. and Canada, Europe, China, Japan, and Australia. For further information, please visit https://www.totallychocolate.com.
Photo courtesy of Totally Chocolate LLC