Hotel Chocolat announces intention to raise £50m by floating on AIM
Proceeds will be used to fund the opening of new stores, boost manufacturing capacity and website improvement
Hotel Chocolat, a chocolatier and retailer, has revealed it is seeking to raise £50m by trading its shares on AIM, London’s junior stock market.
Founded in 1993, the company manufactures and sells its range of premium chocolate-related products both online and through its network of 84 stores in the UK and abroad.
Hotel Chocolat claims to have approximately 500,000 active customers and posted revenues of more than £81m in the year ending June 2015.
With admission expected in the second quarter of 2016, the chocolatier plans to use the proceeds to continue roll-out of its stores globally, enhance its manufacturing capacity and improve its website.
Angus Thirlwell, co-founder and CEO of Hotel Chocolat, said: “Hotel Chocolat is built on our core values of authenticity, originality and ethical trading.
“We are very excited at the prospect of listing as it is the next logical step in our growth plans and will enable us to accelerate the many initiatives that we have in place, in particular additional investment in our British chocolate manufacturing, in new stores and in our digital offering.”