Mars is buying Britain’s Hotel Chocolat in a deal that values the specialist chocolate maker at £534 million ($661 million) and will bolster the US confectionery giant’s presence in the United Kingdom. Hotel Chocolat was founded in 1993 by entrepreneurs Angus Thirlwell and Peter Harris who “were on a mission to make chocolate exciting again,” according to its website. The brand opened its first store nearly 20 years ago in north London and has since grown to 131 UK stores, in addition to cafés and restaurants. In the most recent financial year, Hotel Chocolat posted what it described as “disappointing” financial results. “By partnering with Mars, we can grow our international presence much more quickly,” he added, describing Mars as an “excellent long-term steward of the Hotel Chocolat brand.”For more CNN news and newsletters create an account at CNN.com

Source: CNN November 16, 2023 22:00 UTC