US-based organic confectionery maker Ocho Candy has ceased operations after 14 years in business.
The decision was made due to a “lack of ongoing funding”, according to a LinkedIn post from Todd Kluger, vice president of sales and marketing at the chocolate business.
Kluger said Ocho Candy had made over $100m in retail sales since its inception in 2010, had a portfolio of over 50 products and had achieved nationwide distribution in the US and Australia, including retailers such as Albertsons, 7-11 and Walmart.
Kluger wrote: “It was a long journey for the brand, and we were successful with meeting many of the challenges laid in front of us over the years, but we are no longer a business.
“This failure is due to a lack of ongoing funding, and not from a lack of character, creativity, or hard work ethic that all of the employees exemplified.”
According to Crunchbase, Ocho Candy raised $5.5m in a Series B funding round in February 2019.
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In 2021, Ocho Candy relocated its production line to Trinidad and Tobago from Oakland, California in order to “have a better supply of ingredients as well as financially benefiting those in the indigenous countries where the ingredients were farmed, or where the candy is made”, according to the company website.
The confectioner created certified Organic and Fairtrade chocolate candy, as well as vegan alternatives.
Just Food has contacted Ocho Candy for further comment.