Hotel Chocolat Group

History

2023: Mars bought Hotel Chocolat

On November 16, 2023, the American corporation Mars announced the conclusion of an agreement on the purchase of the British manufacturer of premium chocolate Hotel Chocolat Group. The transaction amount is £534 million (approximately $666.3 million at the exchange rate as of November 20, 2023).

Hotel Chocolat was founded in 1993. It is the only company in Britain to grow cocoa on its own plantation. Hotel Chocolat produces and distributes chocolate and other cocoa products via the Internet, a chain of cafes, restaurants, retail outlets and specialty stores. Hotel Chocolat chocolate is known for its high quality and low sugar content. As of November 2023, the company operates 131 stores in Britain and 21 outlets in Japan.

Mars announces agreement to buy British premium chocolate maker Hotel Chocolat Group

Under the terms of the contract, Mars will pay £3.75 for each share of Hotel Chocolat. This is 170% more than the value of the securities of the acquired company at the close of trading on November 15, 2023. The acquisition is planned to be carried out at the expense of funds.

Hotel Chocolat CEO Angus Thirlwell and co-founder Peter Harris, who each own a 27% stake in the company, said they approve of the merger with Mars. This means that the deal will bring each of them about £144 million (about $180 million). Mars, once the takeover is complete, is expected to help Hotel Chocolat grow its international business. Thirlwell, who will remain chief executive of Hotel Chocolat, intends to invest the bulk of the funds raised under the deal back into the business. In turn, Harris plans to retire.

The Hotel Chocolat brand is a hit with consumers in different markets. By partnering with Mars, we will be able to expand our global presence much faster, "notes Thirlwell.[1]

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