Hotel Chocolat’s directors say the offer is fair and reasonable, and are recommending shareholders back it (the directors hold about 54% of the stock).Ī chocolate mixing machine at the Hotel Chocolat factory in Huntingdon, Cambridgeshire. The UK has been an important market for Mars, and it expects this to be complemented by the acquisition of Hotel Chocolat, with its distinctive capabilities in product development, luxury gifting and immersive brand experiences. Mars, which employs around 10,000 people in the UK, says the deal will bring a “much-loved brand into its portfolio” and deepen its relationships with consumers.

It will pay 375p per Hotel Chocolat share, a hefty 170% premium to last night’s closing price of 139p.

The takeover, announced to the stock market this morning, will help Hotel Chocolat expand internationally, the companies say.Īnd Mars is paying a steep premium to get its prize. UK chocolatier Hotel Chocolat has agreed to be taken over by food giant Mars in a £534m deal. Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. 09.24 CET Introduction: Mars to buy Hotel Chocolat in £534m deal