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Mars Inc. plans to purchase British chocolate retailer Hotel Chocolat for £534m. Although under Mars initial focus will remain on the UK market, both parties have hinted to potential international expansion.
On X, previously known as Twitter, Crystal Amber's Richard Bernstein said the 'absurdity of UK small cap valuations [was] demonstrated again today.' Hotel Chocolat shares rose 160% on Thursday.
The FTSE 100 index closed Thursday down 1% to 7410 points, dragged by oil-exposed stocks and miners while Burberry's poor update also dampened sentiment, IG chief market analyst Chris Beauchamp...
The purchase represents an opportunity to move into the higher-value premium chocolate category
The brand aims to boost its presence internationally.