Fred Meltzer, once an accountant, has transformed into the "Willy Wonka of South Florida" by leading Hoffman’s Chocolate. His journey is a testament to passion, strategic acquisition, and a keen eye for quality ingredients, culminating in both business success and personal happiness.
Key Takeaways
- Fred Meltzer transitioned from accounting to lead Hoffman’s Chocolate.
- The company emphasizes high-quality, directly sourced ingredients.
- Strategic acquisitions have expanded Hoffman’s product line and market reach.
- Meltzer found love and partnership with Sandra Hoffman, the former executive vice president.
- BBX Sweet Holdings acquired Hoffman’s, providing capital for further growth.
A Career Sweetened by Chocolate
Meltzer’s career began far from the world of confectionery, working for a CPA firm in Washington, D.C. He moved to South Florida in 1989, working for Hollywood Inc. before carving out a niche in helping investors buy and run mid-sized companies. In 1997, seeking to be a stay-at-home dad, he took a chance on Hoffman’s Chocolates, initially working for free. His dedication and business acumen led him to eventually buy out Paul Hoffman’s shares.
Meltzer was particularly impressed by Hoffman’s commitment to sourcing premium ingredients, such as Australian apricots and pineapples, and nuts directly from farms shortly after harvest. Sandra Hoffman, Paul’s daughter and former executive vice president, remained with the company, contributing her marketing expertise. Together, they have steered Hoffman’s through significant growth.
Strategic Growth and Acquisitions
Under Meltzer and Sandra’s leadership, Hoffman’s Chocolates has expanded its offerings through strategic acquisitions. In 2009, they acquired Good Fortunes, known for its giant gourmet fortune cookies, followed by Boca Bons in 2010, which produces gourmet bonbons sold in major retailers. These online-focused ventures helped balance the company during the "Great Recession."
In February 2013, BBX Capital, through its subsidiary BBX Sweet Holdings, acquired Hoffman’s. This acquisition provided the capital and leadership needed for further expansion. BBX Sweet Holdings aims to be a consolidator in the candy and confections industry, acquiring good brands that require investment for growth. They have since acquired Williams & Bennett, a producer of Belgian chocolate products.
Love and Chocolate
Meltzer’s professional journey at Hoffman’s also led to a personal one. His business relationship with Sandra Hoffman evolved into a friendship and eventually love. They married in May 2011. Their personal lives have flourished, with Meltzer’s daughter heading to the University of Florida and Sandra’s daughter, Christine, becoming a valued employee at Hoffman’s.
Commitment to Quality
Hoffman’s Chocolates maintains a strong focus on quality and ethical sourcing. The company is mindful of global supply chain conditions and is committed to ensuring proper farming practices and avoiding child labor. They are continuously refining their sourcing standards. The company’s production manager has been with them for 16 years, and Paul Hoffman continues to consult on new products. The meticulous, labor-intensive nature of their products, from hand-rolled pretzels to their popular Coconut Cashew Crunch, has earned them accolades, including from The Wall Street Journal. With plans for further expansion, including potentially beyond their current five stores, business at Hoffman’s appears to be exceptionally sweet.