(Alliance News) - Hotel Chocolat Group PLC on Tuesday said it has signed a new strategic partnership agreement with Tokyo-based Eat Creator Corp.
The Hertfordshire, England-based chocolate maker said it will hold 20% equity in a newly established corporate vehicle, with brand royalty revenue going to Hotel Chocolat.
A total of 21 branded Hotel Chocolat stores will initially be within the newly established vehicle, whilst Eat Creator will be "providing growth capital, new supply side know-how and proven expertise in food brand development for the Japanese consumer."
Hotel Chocolat explained that the agreement will support its "global" strategic ambitions, by applying its "business learnings" from the first four years of trading in Japan.
Co-Founder & Chief Executive Angus Thirlwell said: "Our new partner is well equipped to optimise the brand's potential for Japan, bringing proven expertise, new capital and a natural alignment on brand values. We are looking forward to combining the ingredients of Eat Creator with the ingredients of Hotel Chocolat into a powerful recipe for our next chapter in Japan."
Hotel Chocolat shares were up 2.5% to 162.00 pence each in London on Tuesday around midday.
By Sophie Rose, Alliance News reporter
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