![](\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2019\/01\/hotel-chocolat.png\")
<\/p>\nA MAJOR update has been issued on the future of Hotel Chocolat's 131 stores. <\/p>\n
It comes after the posh chocolate chain was sold this morning to confectionary giant Mars. <\/p>\n
<\/p>\n
The \u00a3534million deal is expected to close in the first few months of 2024.<\/p>\n
Mars, which owns popular brands like M&M's and Celebrations, revealed it's planning to expand the\u00a0posh chocolatier\u00a0in the UK and overseas.<\/p>\n
Now the confectionary giant has confirmed to The Sun that it will commit to keeping the doors open on Hotel Chocolat's stores.<\/p>\n
However, it did say that both companies will continue to regularly evaluate its portfolio of shops.<\/p>\n
The chocolatier has 131 shops in the UK in total, as well as caf\u00e9s, restaurants, outlets, and factory stores.<\/p>\n It also has sites in Gibraltar,\u00a0Ireland\u00a0and St Lucia.<\/p>\n Bosses insisted it\u2019s not another Cadbury-Kraft situation and also committed to keeping the recipes the same.<\/p>\n Kraft, now known as Mondelez International, bought Cadbury back in 2010 for a whopping \u00a311.5billion.<\/p>\n <\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n The takeover has ruffled a few Cadbury fans\u2019 feathers since.\u00a0<\/p>\n In 2015, chocolate lovers slammed Kraft for secretly changing the recipe of\u00a0Cadbury\u2019s Creme Egg.<\/p>\n And in 2017, chocolate lovers accused the US parent company of altering the taste of\u00a0Mini Eggs.<\/p>\n But Hotel Chocolat fans needn't worry because Mars has confirmed that the posh-chocs will remain unchanged following the takeover.<\/p>\n The Snickers owner said it even intends to continue to invest in the Hotel Chocolat Group's UK store footprint including further store openings. <\/p>\n It also says it will keep the chocolatier's factory space in Huntingdon and its headquarters in Royston. <\/p>\n Mars, which employs around 10,000 people in the UK, said Hotel Chocolat\u2019s "luxury gifting and immersive brand experiences" will boost its own presence in those areas.<\/p>\n Andrew Clarke, global president of Mars Snacking, said: "The Mars and Hotel Chocolat businesses are highly complementary, and during the course of our discussions with Hotel Chocolat\u2019s leadership it has also become clear that there is a very strong cultural fit \u2013 with purpose at the heart of both organisations, and a shared passion for quality and\u00a0sustainability."<\/p>\n Hotel Chocolat, which was founded by Angus Thirlwell and Peter Harris in 1993, has been operating at a loss after big restructuring efforts last year which helped to bring down costs.<\/p>\n In September last year, it announced it was shutting all five of its shops in the US.<\/p>\n But it still operates online, selling popular items like its\u00a0Velvetiser hot chocolate maker.<\/p>\n Earlier this year in January, it announced a new venture in\u00a0Japan\u00a0with Tokyo's Eat Creator to open 21 Hotel Chocolat shops following the collapse of its first deal.<\/p>\n The group\u2019s share price has suffered, trading almost a quarter lower for the past six months after two profit warnings earlier this year.<\/p>\n But in October, it announced sales had grown by more than a 10th in the three months to October and the stores opened this year have been performing better than expected.<\/p>\n Co-founder and chief executive, Angus Thirlwell said: "We know our brand resonates with consumers overseas, but operational supply chain challenges have held us back.<\/p>\n "By partnering with Mars, we can grow our international presence much more quickly using their skills, expertise and capabilities.\u201d<\/p>\n The chocolatier is known for its premium treats, advent calendars and gifts, which are also available online. <\/p>\n In other acquisition news, high-street street fashion chain\u00a0FatFace, which has 180 stores across the UK, has been sold to Next.<\/p>\n It was acquired by\u00a0Next\u00a0for the value of \u00a3115.2million.<\/p>\n And, ScS chain has been sold to a new owner\u00a0in a deal worth \u00a3100million.<\/p>\n The company, which has more than 100 stores across the UK, is being taken over by Italian\u00a0furniture retailer\u00a0Poltronesofa.<\/p>\n![](\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/11\/cn5jb4-dark-chocolate-bar-wrapper-627928338.jpg\")
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