U.S.-based Mars Inc. and Britain’s Hotel Chocolat agreed Thursday that Mars will purchase the specialty chocolatier for roughly $662 million (534 million pounds), reports Reuters.
The U.K. chocolate brand has over 130 stores and delivers premium, ethically sourced chocolate and confectionery gifts.
Hotel Chocolat has worked to enter and expand into Japan and the U.S., with plans to set up manufacturing capabilities and build infrastructure in those markets, according to Reuters.
"Partnering with Mars opens up the possibilities that those things will be a lot easier and quicker," said Hotel Chocolat’s chief executive Angus Thirwell.
Thirwell expects the 3,000 employees of Hotel Chocolat will be retained after the transaction, which Is expected to close by January 2024. Full Story (Subscription Required)
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