Hotel Chocolat to acquire remaining part of Rabot 1745
Hotel Chocolat has agreed to acquire the remaining part of its Rabot 1745 joint venture that it does not already own for £4.
Rabot was established in 2016 by the company and its non-executive chairman Andrew Gerrie to develop a range of beauty products inspired by Hotel Chocolat’s Saint Lucian cacao farm and rainforest spa.
Hotel Chocolat and Gerrie own 47% and 40.5% of Rabot respectively, with the balance being held by non-related parties.
In the year to 30 June 2020, Rabot reported a net loss after tax of £0.4 million. On completion of the acquisition, the business is expected to have total assets of around £0.7 million and liabilities of around £0.9 million.
Explaining the reason for the acquisition, Hotel Chocolat said in a statement: “The group is well placed to leverage the value of the Rabot inventory and to further develop the brand’s intellectual property, which includes a range of high-quality beauty products which have attracted multiple awards and favourable customer reviews.”
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