11-17-2023, 12:33 AM
https://www.bbc.co.uk/news/business-67436228
The co-founders of Hotel Chocolat will each get £144m after agreeing to sell the British business to Mars.
The US confectionery giant will pay £534m for the firm that Angus Thirlwell and Peter Harris set up in 1993.
Hotel Chocolat said the deal would allow the brand to "grow further and faster", including overseas.
The company has had mixed success with expanding internationally and last year had to shut down its five shops in the US.
"We know our brand resonates with consumers overseas, but operational supply chain challenges have held us back," said chief executive Mr Thirlwell.
I am a bit worried about this... the danger is that they'll start using cheaper ingredients, and end up ruining their products. But at the same time, this could be the investment they need to achieve their ambitions of international expansion.
I do hope my fears don't come to pass!
The co-founders of Hotel Chocolat will each get £144m after agreeing to sell the British business to Mars.
The US confectionery giant will pay £534m for the firm that Angus Thirlwell and Peter Harris set up in 1993.
Hotel Chocolat said the deal would allow the brand to "grow further and faster", including overseas.
The company has had mixed success with expanding internationally and last year had to shut down its five shops in the US.
"We know our brand resonates with consumers overseas, but operational supply chain challenges have held us back," said chief executive Mr Thirlwell.
I am a bit worried about this... the danger is that they'll start using cheaper ingredients, and end up ruining their products. But at the same time, this could be the investment they need to achieve their ambitions of international expansion.
I do hope my fears don't come to pass!
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