Blog: Dean BestHotel Chocolat "bowled over" by chocolate bond proceeds

Dean Best | 13 July 2010

Hotel Chocolat has ambitions for expansion

Hotel Chocolat has ambitions for expansion

A few weeks ago, we reported plans by upmarket UK chocolate chain Hotel Chocolat to raise funds through expansion through the issue of a so-called chocolate bond.

The bond gave members of Hotel Chocolat's "chocolate tasting club" the chance to invest GBP2,000 or GBP4,000 with a gross annual return of 6.72% or 7.29%. The difference was in the return, which was to be paid in chocolate.

Today (13 July), Hotel Chocolat announced that the bond had raised GBP3.7m (US$5.58m).

The proceeds fell short of the target of "approximately GBP5m" set by Hotel Chocolat in May, although a spokesperson insisted the company was still able to "do all the things" it had planned.

The money will be used to add to the number of shops Hotel Chocolat runs in the UK and overseas, to expand its chocolate factory in Cambridgeshire and to create an "eco chocolate factory" at its plantation in St Lucia.

Hotel Chocolat co-founder and CEO Angus Thirlwell said the company had been "bowled over" by the response of its members.

"We are now in a strong position to grow the business further using funds provided directly from our customers," Thirlwell said.


BLOG

UK food associations come together on Brexit

The plethora of food manufacturing associations in the UK has been argued by some to be an impediment to the industry coming to a coherent position on the aftermath of Brexit and on what the sector sh...

BLOG

Amazon cools talk of plans for wave of grocery stores

An update on Amazon's plans for the grocery sector. The usually reticent retailer has this week poured cold water on claims it has plans for 2,000 physical grocery stores....

BLOG

Will Amazon Go be retail "game-changer"?

Ask any FMCG executive to list the trends shaking up the sector and digital and e-commerce will be pretty high on the list. Drill down into that and Amazon will be one of the subjects in the digital s...

BLOG

UK food producers call for "best possible single market access" post-Brexit

Since Theresa May took over as UK Prime Minister in the wake of the country's referendum vote to quit the European Union, she and her ministers have been at pains not to divulge their negotiating posi...

just-food homepage



Forgot your password?