Re:Capital Australia, Hilco Capital’s Australian unit, has formed a confectionery holding company as it pursues growth in the country’s premium confectionery sector following its acquisition of Betta Foods.

The investment firm has taken 100% control of Betta, which manufactures liquorice, marshmallows and snowballs under the Capricorn and Eskimo brands. The company generates an annual turnover of AU$30m and employs 150 staff. The financial details of the transaction were not disclosed.

Re:Capital is working to grow its presence in the premium confectionery space building on the acquisition of Ernest Hillier Chocolates in February this year. Re:Capital’s confectionery interests will be managed under an umbrella holding company, The Confectionery Innovation Group.

“We are continuing to invest in Australian businesses where we see true potential for expansion and for growth,” Re:Capital CEO Paul McGowan commented.

McGowan said that the investment firm believes there are “enormous opportunities” for Australia’s specialist confectioners. In particular, he said that Re:Capital would leverage its “global network” to assist companies in its holding group to take their products to a “worldwide audience”.

James Turner, investment director for Re:Capital Australia, said Betta Foods is the “perfect match” for the Confectionery Innovation Group due to its “strong” manufacturing facilities, “experienced and capable” staff and “excellent product range.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“It perfectly complements our Ernest Hillier chocolate business and we look forward to working to achieve the continued successful expansion of this company within the new Confectionery Innovation Group,” Turner added.