WACO, Texas — Waco's diaper manufacturing plant, Hello Bello, announced that its company is now under new ownership months after the company filed for bankruptcy.
Private equity firm, Hildred Capital Management, acquired the entire company after actors Kristen Bell and Dax Shepard filed for Chapter 11 bankruptcy last October due to high shipping and production costs, according to Fortune.
Fortune added that high shipping and production costs were hurting Hello Bello for years and in an attempt to keep those costs in check, Hello Bello built its only diaper factory in Waco in 2021. However, this maneuver didn't bring cost savings fast enough, resulting in bankruptcy, Fortune reported.
In a statement sent to 6 News via email, a spokesperson for Hello Bello said that under new ownership, the company now has the resources it needs to sustain growth.
"We are coming out of a challenging period and now have the proper resources to continue Hello Bello’s growth story," the company said in a statement.
Bell and Shepard founded Hello Bello in 2019 with the goal of putting more affordable baby products on the market. The Waco plant promised to bring over 100 full time jobs to the city when it opened in 2021.
"We intend to keep and grow our manufacturing here, honoring the commitments we have made to this great city going forward," per the statement. "... It is our intention to be an employer of choice in this community."