Hotel Chocolat raises £22m to fuel online and international growth
Hotel Chocolat has raised £22m through a share placing to help fuel its online and international growth once the coronavirus pandemic has dissipated.
The chocolatier said the cash would be ploughed into its medium-term growth strategy, which includes its expansion into the US and Asia, increasing its distribution and warehouse capacity, and investing in its core UK business – both in stores and online – once the crisis had passed.
Hotel Chocolat said the funds would also provide it with “additional flexibility if it so becomes needed” during the coronavirus crisis.
The business said it was adopting a “prudent approach to expansion” while the global pandemic rages on.
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