Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Mars to buy Hotel Chocolat to help expansion overseas

by November 16, 2023
November 16, 2023
Mars to buy Hotel Chocolat to help expansion overseas

Confectionery giant Mars has announced it will buy Hotel Chocolat for £534m to help the UK company expand overseas.

Hotel Chocolat said the deal would allow the brand to “grow further and faster”.

“We know our brand resonates with consumers overseas, but operational supply chain challenges have held us back,” said Hotel Chocolat chief executive Angus Thirlwell.

The company is mostly based in the UK with 124 shops, but has some overseas.

Mr Thirlwell said: “By partnering with Mars, we can grow our international presence much more quickly using their skills, expertise and capabilities.”

Following the announcement of the deal, the retailer’s share price soared by more than 160% to 365.21p.

Hotel Chocolat’s overseas expansion has been costly and problematic.

In September last year, it announced the closure of its five shops in the US at a cost of £3.5m, but it continues to sell online, focusing on its Velvetiser hot chocolate-maker.

Earlier this year, it announced a joint venture in Japan with Tokyo’s Eat Creator Corporation to set up 21 Hotel Chocolat shops after its first deal fell apart.

It previously had a partnership with Chris Horobin, the former boss of QVC Japan, to open stores in the country. However, that deal ended and resulted in Hotel Chocolat writing off nearly £22m.

The company now holds a 20% stake in the joint venture with Eat Creator and will receive royalties from the deal.

It also owns an estate in Saint Lucia, which has a 140 acre farm that produces organic cacao and is where the company operates the Rabot Hotel.

In its most recent results, Hotel Chocolat disclosed impairment charges on the estate because of “continued Covid-19 disruption where visitor numbers to the island have not recovered to pre-pandemic levels”.

The company also has shops in Ireland and Gibraltar.

Read more:
Mars to buy Hotel Chocolat to help expansion overseas

0
FacebookTwitterGoogle +Pinterest
previous post
UK Hospitality sector renews plea for help over business rates
next post
US lets UN Security Council resolution calling for pauses in Gaza fighting pass without Hamas condemnation

You may also like

Exploring the Relationship Between Sleep and Academic Performance

April 24, 2024

Sunak says UK shouldn’t ‘rush to regulate’ AI

October 26, 2023

Nintendo Switch 2 launches at midnight as fans...

June 5, 2025

UK recession still on the cards after aggressive...

March 27, 2023

The five frauds to watch out for next...

December 27, 2022

Israeli Hadassah finally leaves Russia?

September 13, 2024

Bumper tax revenues resulted in UK public borrowing...

September 22, 2023

Valuing your business for sale? The key methods...

February 7, 2024

Carpetright Paralysed by Cyberattack: Online and In-Store Trading...

April 23, 2024

Getting Too Know You: Michael Baron, Commercial Director,...

July 18, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Good Riddance to the Penny

      June 5, 2025
    • Oracle Fusion Testing: The UK Leader’s Playbook for Automation

      June 5, 2025
    • Blue state Republicans threaten rebellion if Senate changes key provision in Trump’s ‘big, beautiful bill’

      June 5, 2025
    • Ricketts, Fetterman team up for crackdown on China’s attempts to purchase US farmland

      June 5, 2025
    • Hamas working to ‘sabotage’ Trump-backed aid group with ‘fake news’: Israeli official

      June 5, 2025
    • Longtime Trump loyalist flips on GOP’s ‘big, beautiful bill’

      June 5, 2025

    Categories

    • Business (8,148)
    • Investing (2,009)
    • Politics (15,529)
    • Stocks (3,128)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved