Ezaki Glico snaps up US craft chocolate business TCHO

The Pocky maker agreed a deal with TCHO's majority owner Emil Capital Partners, a venture capital firm backed by German retail giant the Tengelmann Group, it announced yesterday.

Ezaki Glico said the deal gives it a stronger foothold in the US chocolate confectionery market, which grew 2% in retail value sales last year to $18.9bn, according to Euromonitor International.

“The overall market in the premium chocolate category is expecting strong continued growth, and by acquiring TCHO and entering this market, Ezaki Glico aims to enhance its chocolate business,”​ said the Japanese group in a press release.

Industry consultant Curtis Vreeland esimated the US bean-to-bar chocolate market was worth $75m - $100m​​ in 2015 and he predicted further growth.

Bean-to-bar maker TCHO Ventures was established in July 2005. It has around 37 employees and its own factory in Berkley, California.

Ezaki Glico has around  5,210 employees worldwide and is active in confectionery, ice creams, processed foods, baby formula, milk products, ingredients, cosmetics and healthcare.

It established American operations in February 2003 by founding the Ezaki Glico USA Corporation in Irvine, California to sell products such as Pocky and PRETZ.