Tue, 04 Jun 2013 | DIVISION SALE
Hotel Chocolat, the upmarket chocolatier, is thought to be considering using a stake sale to help fund international expansion plans.
The business is reportedly on the hunt for franchise partners in northern and central Europe, South and North America and the Far East. The firm's online prospectus stated: "We are targeting key markets where we believe our brand will successfully resonate with local consumers.
"The expansion of our own stores will be supported through a global network of franchise partners."
PwC was hired last year in order to evaluate unsolicited bids for Hotel Chocolat. But it has now emerged that the accountant has held talks with potential private equity buyers with the exploration of a minority stake sale in the business in mind. The deal could value the company at more than £100 million and should go a fair way to financing the expansion.
In addition to overseas growth, the retailer is looking at expanding its 67 stores in the UK. It is already refitting a number of outlets to its Roast + Conch café and shop format, but it is also expected to develop its online services and is even exploring the option of a fine-dining restaurant in London.
The business was founded by Thirlwell and Peter Harris in 2003 and enjoyed an 84 per cent surge in pre-tax profits in the 12 months to June 2012.
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