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LONDON — U.S. food giant Mars said Thursday that it will buy British chocolatier Hotel Chocolat for £534 million ($662 million), as the brand seeks to boost its international presence. "We know our brand resonates with consumers overseas, but operational supply chain challenges have held us back. The announcement sent shares of London Stock Exchange-listed Hotel Chocolat soaring more than 160% in early deals to 366.50 pence by 9:30 a.m. local time Thursday. Hotel Chocolat is primarily U.K.-based, with 124 shops domestically and several others overseas. "We are confident that Mars will be an excellent long-term home for Hotel Chocolat, providing a like-minded, entrepreneurial and purpose-led environment in which to maximize the potential of the Hotel Chocolat brand which is already so beloved by consumers," Andrew Clarke, global president of Mars Snacking, said in a statement.
Persons: Angus Thirlwell, Mars, Thirlwell, Andrew Clarke, Mars Snacking Organizations: LONDON, London Stock Exchange, headwinds Locations: Chocolat, U.S, Saint Lucia
Mars is offering almost $700 million to buy Hotel Chocolat. AdvertisementThe cofounders of Hotel Chocolat stand to become about $180 million richer after Mars offered to buy the upmarket chocolatier for £534 million ($673 million.) Thirlwell stands to make £91 million ($112 million) and Harris £53 million ($65 million) from the Bounty and Mars maker's offer. Hotel Chocolat has 131 stores in the UK. Mars would keep the company "special" while helping it grow, Clarke told Bloomberg, including opening more Hotel Chocolat stores in the UK.
Persons: Angus Thirlwell, Peter Harris, , Thirlwell, Harris, Peter Dazeley, Andrew Clarke, Mars Snacking, Clarke Organizations: Service, British, London Stock Exchange, Bloomberg Locations: British, Chocolat, Chocolat's, Japan, Peel, London
Mike Moore | Getty Images Entertainment | Getty ImagesBud Light's ill-fated Dylan Mulvaney collaboration dominated conversations among marketers gathered in southern France for the Cannes Lions advertising festival this week. But according to Sarah Kate Ellis, president and CEO of LGBTQ+ rights organization GLAAD, Bud Light's lack of engagement did exactly that. "What Bud Light did was they had a trigger response and they ended up alienating everyone," Ellis told CNBC's Tania Bryer Wednesday. In May, Bud Light lost its top spot in the U.S. beer market, falling behind Constellation Brands' Modelo after sales slumped 24.6% year over year. A 'wake-up call'AB InBev's chief global marketing officer, Marcel Marcondes, said Monday that the months-long Bud Light boycott had been a wake-up call for the company.
Persons: influencer Dylan Mulvaney, Mike Moore, Bud Light's, Dylan, influencer Mulvaney, Brendan Whitworth, Sarah Kate Ellis, Bud Light, Ellis, CNBC's Tania Bryer, we're, David Droga, Droga, Andrew Clarke, Mars Wrigley, Clarke, Marcel Marcondes Organizations: Getty, Cannes Lions, Anheuser, Busch InBev, InBev's North, U.S, Constellation Brands, Modelo, Accenture, Brands, InBev's, Light, Deutsche Bank Locations: France, Cannes, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCannes Lions 2023: A.I. is an opportunity, but we need to be careful, says Mars Wrigley global presidentAndrew Clarke, global president of food group Mars Wrigley, tells CNBC's Tania Bryer that AI is an opportunity but business leaders should not delegate responsibility on the issue.
Persons: Mars Wrigley, Andrew Clarke, CNBC's Tania Bryer Organizations: Cannes
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCannes Lions 2023: Brands have a social responsibility, Mars Wrigley global president saysAndrew Clarke, global president of food group Mars Wrigley, tells CNBC's Tania Bryer that brands have a social responsibility and controversies, such as the one caused by Bud Light's campaign, can be navigated.
Persons: Wrigley, Andrew Clarke, Mars Wrigley, CNBC's Tania Bryer, Bud Light's Organizations: Cannes, Brands
Issues like these are still relatively under-discussed in the Irish news media and society, and Chambers’s fans seem to welcome his candor. He gets “thousands and thousands” of social media messages about mental health, he said, but he could never deal with interactions like those in person. “If I didn’t have the bag,” Chambers said, “I’d stop talking about mental health‌.”On other episodes, Chambers talks frankly about an economic climate that he says has infantilized his generation. Chambers said the Irish news media continued to draw links between the party and terrorism. Several popular Instagram accounts attest to this growing interest in Northern Irish politics among young people in the Republic.
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