Mars to acquire British luxury company Hotel Chocolat

 

Hotel Chocolat's Chief Executive Angus Thirlwell and co-founder Peter Harris who both own 27% of the equity, according to LSEG data, have said they will accept the offer. Founded 30 years ago, Hotel Chocolat's stated aim was to make chocolate exciting and it succeeded in bringing ethical affordable luxury to the British high street, with over 130 stores.

While the Hotel Chocolat brand was making progress in Japan and the United States, he said, despite previous setbacks, the company would soon need to set up manufacturing and build infrastructure in those markets, requiring capital and resources. Thirwell plans to stay leading the company for the next five years under the ownership of family-owned Mars. "Partnering with Mars opens up the possibilities that those things will be a lot easier and quicker," he said in an interview.