Hotel Chocolat Group rises after deal with Tokyo's Eat Creator
03/01/2023 11:45
** Shares of British luxury chocolate maker Hotel Chocolat
Group HOTC.L up 2.9% at 160p
** Co signs partnership agreement with Tokyo's Eat Creator
Corporation
** HOTC to hold 20% equity in the new vehicle and will earn
brand royalty as part of the deal
** "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 value" - HOTC's CEO Angus Thirlwell
** "The company is clearly hoping that the way its tie-up
deal with Eat Creator Corporation is structured will give it
more protection in a downturn" - Susannah Streeter, analyst at
Hargreaves Lansdown
** Shares were down ~69% in 2022 at the close of trade on
Dec. 30
(Reporting by Radhika Anilkumar in Bengaluru)
((Radhika.Anilkumar@thomsonreuters.com))