Mars Inc. Acquires UK's Hotel Chocolat for £534 Million

The deal, representing a 170% premium on Hotel Chocolat's share price, aims to bolster the company's international expansion.

Mars Inc. has agreed to acquire British chocolatier Hotel Chocolat for £534 million ($662 million), a move that will bolster the US food giant's presence in the UK and aid Hotel Chocolat's international expansion.
The cash offer represents a 170% premium to Hotel Chocolat's share price on the day before the offer, sending the company's shares up by over 160%.
Hotel Chocolat, which was founded 20 years ago, has 130 stores across the UK and a presence in Japan through a partner deal. However, it has faced operational supply chain challenges that have hindered its overseas expansion.
Hotel Chocolat CEO Angus Thirlwell, who will stay on with the business under Mars, said the partnership with Mars will help the company grow its international presence more quickly.
The deal has raised concerns over the attractiveness of UK firms given the continued weakness of the pound versus the US dollar, making the purchase of companies based in the UK cheaper.