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Hello Bello, a diaper-maker of the stars, has emerged from bankruptcy under new ownership vowing to clean up its financial mess.
Founded in 2019 by actors and couple Kristen Bell and Dax Shepard, Hello Bello made Waco home to its first wholly owned diaper factory. The company took over a used facility on Texas Central Parkway, secured tax breaks from Waco and McLennan County, and pledged to create 110 jobs.
But start-up struggles exacerbated by supply chain issues prompted Hello Bello in October to file for Chapter 11 bankruptcy protection. In a press release announcing the filing, Hello Bello made it clear the move was meant to facilitate a sale to New York-based Hildred Capital Management firm that did acquire the company in December. Hildred has announced Hyland’s Naturals CEO Will Righeimer would oversee the new acquisition.
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Hyland’s Naturals is another company in the Hildred portfolio.
“I am thrilled to guide the partnership between two prominent industry leaders that are dedicated to enhancing the parenting journey,” Righeimer said in a Hello Bello press release. “The synergy between our companies will empower us to provide unparalleled support to parents, from newborns to young children, through a comprehensive range of high-quality pediatric products and consumer healthcare essentials.”
“Hello Bello is well positioned for accelerated growth, building on a well-established customer base that appreciates the value and quality of the Hello Bello brand,” the press release says.
Hello Bello was the “doing business as” name of Unconditional Love Inc. It touted its plant-derived baby products, including diapers, wipes, shampoo, lotion and diaper rash cream, upon introducing itself to consumers in 2019. Products appeared on Walmart shelves, and Hello Bello also built a strong online presence.
“We are excited to be part of the Hildred family of companies,” Hello Bello President Erica Buxton said in a press release. “Hildred has a great deal of experience in this space and with their partnership, we are confident that we will continue to not only make great products but increase our efficiency and manufacturing capacity for our customers and retail partners.
“We will now be in a stronger financial position and benefit from operational expertise from both Hildred and similarly situated businesses in its portfolio.”
Nothing in the press releases mentions the Hello Bello manufacturing facility on Imperial Drive, and whether it has a secure place in the company. Messages to Hildred on that subject had not been returned by late Friday.
A Hello Bello press release from Dec. 16, 2020, announced the company had chosen Waco “for the company expansion of its wholly-owned diaper distribution and manufacturing center. … Hello Bello will modernize the former Domtar facility in a state-of-the-art manufacturing center located at 2101 Texas Central Parkway, with construction expected to be completed by Q2 2021 for a summer grand opening.”
Hello Bello Grand Opening in Waco with Dax Shepard and Kristen Bell, 2021 // video produced by the city of Waco — mywacotv on YouTube
The press release said Hello Bello chose Waco for its central geographic location, access to retail and supply partners, availability of raw materials in the region and cost efficiency.
“We welcome yet another California company that sees the benefits that Texas, Waco and McLennan County have to offer,” McLennan County Judge Scott Felton said at the time.
Waco Mayor Dillon Meek said the announcement was primarily important due to the 110 full-time jobs to be created and the $31 million capital investment.
Hello Bello received a $2.5 million economic development grant from Waco and McLennan County. In a separate development, it secured a lease on a 124,000-square-foot speculative building on Exchange Parkway near Waco’s Amazon fulfillment center.
“I have not heard that they are moving out of our building,” said real estate agent Gregg Glime, who brokered the building lease on Exchange Parkway.
Kris Collins, senior vice president for economic development at the Greater Waco Chamber of Commerce, said local leaders are working with the company to determine whether any changes will be needed to its $2.5 million economic development agreement.
“Waco and McLennan County did provide incentive support to Hello Bello in 2021,” Collins said. “These programs are performance based and payment provided to the company to date were based upon the company’s demonstration that it had met the metrics required. The company’s new leadership has reached out to our team to provide updates on the pathway for continued long term success in Waco for the business, its employees and the community.
“We are working with the company leadership to determine the next steps with the incentive agreements and if any modifications will be needed. In that case, agreement amendments would require consideration of both the Waco City Council and the McLennan County Commissioners Court.”
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