The Cluizel family, owner of the chocolate group Cluizel, acquired the tea brand Betjeman & Barton from the Italian coffee group Illy, owner of the Damman‑thés group. The deal is structured as a full‑control acquisition where Michel Cluizel takes over the Betjeman & Barton name, its Paris headquarters, and its network of boutiques, while retaining the existing management team led by General Manager Agnès Defontaine. The transaction enables the chocolate group to diversify into the premium tea and infusion segment, a category characterized by strong brand loyalty, relatively high margins, and opportunities for experiential and gifting‑oriented retail formats. Strategic rationale for Michel Cluizel includes cross‑selling potential, such as integrating Betjeman & Barton teas into selected Parisian chocolate boutiques and pairing tea‑driven experiences with Michel Cluizel’s premium chocolates and pastry partnerships, while also accelerating the tea brand’s international expansion using the chocolatier’s established distribution and know‑how.

BETJEMAN & BARTON, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the AgriFood sector (10.3x).

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