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Hotel Chocolat acquires Rabot 1745

Rabot was established in 2016 as a joint venture between the company and Andrew Gerrie (the non-executive chairman of Hotel Chocolat) to develop a range of beauty products inspired by the group's Saint Lucian cacao farm and rainforest spa

Hotel Chocolat has announced that it has agreed to acquire the entire issued share capital of
Rabot 1745 Limited.

Rabot was established in 2016 as a joint venture between the company and Andrew Gerrie (the non-executive chairman of Hotel Chocolat) to develop a range of beauty products inspired by the group’s Saint Lucian cacao farm and rainforest spa.

The group and Gerrie own 47% and 40.5% respectively of the issued share capital of Rabot with the balance held by non-related parties.

The company’s issued share capital of Rabot is through its subsidiary, Hotel Chocolat Limited which has agreed to acquire the remaining 53% of the issued shares, including those owned by Gerrie.

On completion of the acquisition, Rabot is expected to have total assets of £700,000 and liabilities of £900,000 resulting in (unaudited) net liabilities of £200,000.

In addition, the group will also acquire Robot’s inventories and other assets, as well as liabilities which include an outstanding loan amount owed Gerrie totalling £744,249.

The group will settle Gerrie’s loan through the issue of 203,903 new ordinary shares of 0.1 pence each.

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