Mars, the US candy company, agreed to buy Britain’s Hotel Chocolat Group Plc for £534m (€610m) and pledged to help the high-end seller of chocolate “puddles, slabs and batons” expand internationally. Mars said it was prepared to shell out for Hotel Chocolat as the boutique brand’s high-end wares bring a different offering to a company which sells more mass-market products. Hotel Chocolat was co-founded by Angus Thirlwell and Peter Harris who joined forces to sell corporate-branded mints, before moving to selling gourmet chocolates and running cafes. The negotiations between Mars and Hotel Chocolat, whose code names “Beekeeper” and “Queen Bee” were accidentally revealed in an early press release, led to a “very respectable” valuation, Mr Thirlwell added. Mars has long had its eye on Hotel Chocolat because of its unique proposition, said Andrew Clarke, global president of Mars Snacking.

Source: Irish Independent November 17, 2023 08:24 UTC