The owners of U.K. chocolate company Montezuma's have sold a majority stake to Inverleith LPP, a Scotland-based private equity firm, reports The Guardian. Helen and Simon Pattinson began Montezuma's with a single store in Brighton, England, in 2000. They have grown to employ 130 staff and operate in five stores in London and the southeast, as well as a subscription chocolate club sending products through the mail each month. The couple quickly added manufacturing capabilities, too, when their key supplier went under before their launch. Helen said this was the making of the business, allowing them to test "wacky favors" in their store and see what was popular.
The deal will allow Montezuma's to open more stores, expand its range and sell its chocolate bars, buttons, and truffles via more retailers. The value of Inverleith's investment has not been disclosed, but the Pattinsons are understood to be receiving several million dollars for the chunk they are selling. Full Story
Related: Bite-Sized, Functional Chocolate May Increase Sales; Retailers, Suppliers May Lose $12B Under No-Deal Brexit.
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