A West Yorkshire confectionery business has acquired an importer, distributor and wholesaler of fine chocolates and novelties based in Milton Keynes.
Bon Bon's (Wholesale) Ltd has acquired hf Chocolates, which supplies luxury confectionery to customers ranging from independent sweet shops, to retail multiples and UK department stores.
The company was established in 1957 and purchased by Stephen Pain and Thelma Benke in 1999. The owners have now sold hf Chocolates in order to retire.
The business has been purchased in its entirety by Wetherby-based Bon Bon's, which provides luxury confectionery for high end independent retailers and visitor attractions.
Bon Bon's intends to preserve hf Chocolates' identity and strengthen the range, relationships and service that have been established across its customer base. The business will continue to be independently marketed under the hf Chocolates' brand creating a clearly differentiated proposition to that of Bon Bon's.
Steve Campbell, managing director of Bon Bon's, said: "The addition of hf Chocolates to our business underlines our ongoing commitment to the luxury confectionery market.
"Both businesses are focused on the independent speciality food sector and our purchase of hf Chocolates will mean all customers in this sector will continue to benefit from two very distinct business and product offerings, while enjoying the high levels of customer service and innovation that the market has come to expect from Bon Bon's."
hf Chocolate directors Stephen Pain and Thelma Benke will work closely with the team at Bon Bon's to ensure a seamless transition for its customers. Pain said: "We've worked hard to build hf Chocolates into the successful business it is today, so our decision to hand over was not taken lightly.
"We have known Bon Bon's for some time and believe its reputation for quality mirrors our own. It was vital that our business' new owners shared our passion and commitment to both quality and customer service, and we believe we've found the right custodians for our business as it moves into its next chapter."
The deal was facilitated by Leeds based Corporate Finance and Investment boutique Ignite Capital. Paul Thompson, managing director at Ignite Capital, added: "I am delighted we have found the right home for hf Chocolates and have worked tirelessly to find a buyer like Bon Bon's ever since Stephen and Thelma indicated they wish to retire and pass the business onto new owners.
"We had lots of interest since taking the business to market, but Bon Bon's were decisive and made their intentions clear from the start. The vendors and I believe we have found the best home for the business and we will look forward to seeing the business thrive in the future."
hf Chocolates and Bon Bon's sit within Lanchester Wines' Lanchester Gifts department which supplies a variety of gift box formats to retail businesses including major high street chains and online stores.