The luxury confectioner has agreed to acquire the entire issued share capital of Rabot 1745 Limited which is does not already hold.
Set up in partnership with businessman and Non-Executive Chairman of Hotel Chocolat, Andrew Gerrie, Rabot 1745 specialises in cacao-powered beauty. The brand boasts a range of products that are inspired by the wild beauty of the group’s St Lucian cacao farm and rainforest spa. Items available from the brand include chocolate-themed products such as Almond Chocolat lip balm and Cacao, Almond and Coconut Three Shell Scrub.
Hotel Chocolat already owns 47 per cent of the beauty business, while Andrew Gerrie owns 40.5 per cent. Having lost £400,000 last year, Hotel Chocolat have paid just £4 to take full control of the brand. Gerrie will receive £3 for his stake, while the remaining £1 will be shared between investors.
“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,” Hotel Chocolat commented.
Upon buying his stake, Hotel Chocolat will pay back a £744,000 loan that Andrew Gerrie paid to the business in the past. This will give him more than 200,000 newly issued shares.
