Mars has reached an agreement to acquire the entire issued share capital of Hotel Chocolat. The transaction is structured as an all-cash offer recommended by the Hotel Chocolat board. The deal aims to leverage Mars' global supply chain and operational expertise to solve Hotel Chocolat's international logistics challenges, allowing the British brand to scale globally. Mars views this as a strategic entry into the premium chocolate segment, complementing its mass-market portfolio. Hotel Chocolat's co-founders will reinvest a portion of their proceeds and remain with the company to lead the brand's next growth phase.

HOTEL CHOCOLAT GROUP, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 10.9x average currently observed in the Retail & Consumer sector.

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