One of Australia’s oldest chocolate brands has entered voluntary administration for a second time, with the rising cost of raw materials and shipping squeezing its margins.
Ernest Hillier Chocolates was founded by English migrant Ernest Hillier in sydney in 1914 and is thought to be Australia’s first chocolate manufacturer.
Its Hillier’s and Newman’s branded chocolates can be found in major supermarket chains in Australia and New Zealand, including Coles, Woolworths, and Aldi. The manufacturer also produces white-label chocolates for large multinationals from its facility in Coburg in melbourne’s inner north.
In 2015, the company was placed in voluntary administration, after having been sold a year earlier by its owners, the Piedimonte family, to British private equity outfit Re:Capital and local private investors. At the time, it employed 60 staff and was turning over between $15 million and $25 million annually.
The company was rescued in 2015 by current owner Chocolate & Confectionery Company Pty Ltd, which the Herald Sun reports is backed by Hilco and a number of other investors including directors Denzil Tong and Darrell Houston.
Administrators Alan Walker and Glenn Livingstone from WLP Restructuring were on…
