Hotel Chocolat has announced that Mars subsidiary Bidco is acquiring the group for £534 million.

Mars said that the move would support the British Chocolatier's next growth phase through its "international footprint, global supply chain, and extensive commercial relationships", adding that the acquisition could see the company expand to further regions.

“Hotel Chocolat is a brand with strong long-term prospects and today’s deal will allow it to grow further and faster,” said Stephen Alexander, chair of Hotel Chocolat. “Joining forces with Mars will deliver great value through the Cash Offer for Hotel Chocolat shareholders and the combination will create exciting opportunities for Hotel Chocolat employees as part of Mars.”

In recent years Mars has also taken over a number of other confectionary brands, including KIND, Nature's Bakery, and Tru Fru.

Andrew Clarke, global president of Mars Snacking, said that Mars and Hotel Chocolat are “highly complementary” businesses".

“Mars has a long and proud history in the UK, and today’s announcement further strengthens our commitment to this important market by bringing an exciting brand into our portfolio and deepening our relationship with consumers,” added Clarke.

He continued: “We are confident that Mars will be an excellent long-term home for Hotel Chocolat, providing a like-minded, entrepreneurial and purpose-led environment in which to maximise the potential of the Hotel Chocolat brand which is already so beloved by consumers.”

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