London CNN —Mars is buying Hotel Chocolat in a deal that values Britain’s largest independent chocolate maker at £534 million ($661 million) and could boost its growth prospects outside of the United Kingdom.
Hotel Chocolat was founded in 1993 by entrepreneurs Angus Thirlwell and Peter Harris who “were on a mission to make chocolate exciting again,” according to its website.
In the most recent financial year, Hotel Chocolat posted what it described as “disappointing” financial results.
The company’s revenue declined 10% to £205 million ($254 million) and it reported a loss of £6.2 million ($7.7 million).
“Hotel Chocolat, whilst expensive, is proper chocolate.
Persons:
London CNN —, Jonathan De Mello, Angus Thirlwell, Peter Harris, “, Chocolat, Thirlwell, ”, Kraft, ” Susannah Streeter, Hargreaves Lansdown, Mars
Organizations:
London CNN, United Kingdom ., Chocolat’s, JDM Retail, Twitter, Kraft Foods, Mondelez, Mars, Hargreaves
Locations:
United Kingdom, Chocolat, London, Japan, Caribbean, American, Birmingham