Paramount Retail Group gobbles up premium chocolate manufacturer
Paramount Retail Group has purchased all business and assets of the premium chocolate manufacturer a…Paramount Retail Group has purchased all business and assets of the premium chocolate manufacturer and legacy brand, Montezuma’s Chocolate.
Following the acquisition, the founders of Montezuma’s Helen and Simon Pattinson, are back at the helm of the company.
Simon and Helen said: “With the backing of Paramount we shall set a strategy that will drive the business back to its previous financial success. We are confident that we can quickly restore the company to its former glory by reinstating the core values that are so close to our hearts as the business founders.”
Montezuma’s launched over twenty-two years ago. The ethical brand produces a vast array of premium chocolate products and can be found in national retailers such as Waitrose, Sainsbury’s, Morrisons, John Lewis, Selfridges and a growing number of high-profile export outlets.
Ravi Sharma, executive director at Paramount, says: “The purchase of Montezuma’s will strengthen our Confectionery Division offering instant synergies with our existing brands and manufacturing facilities ‘Bristow’s of Devon’, giving a strong presence in hard boiled, fudge, toffee, and now premier chocolate. A complete package.”
Paul Taylor, chairman of The Paramount Group, said: “Today marks the next step in our previously stated ambition to become a highly profitable £200m Group within the next 18 months. We still have one eye on a possible IPO, and the continued addition of such powerful brands helps tremendously.”
Helen Pattinson enthused: “We’re delighted to be part of the Paramount family and feel that this is such an exciting time for the business. We can’t wait to see what the future holds and are looking forward to sharing more delicious chocolate with you very soon.”
The Paramount Retail Confectionery Division shall now benefit from an array of synergies that will disproportionately accelerate the growth of Bristow’s and Montezuma’s. Extended range and customer penetration will allow the company to offer total solutions to the retail sector that will open opportunities that were previously unavailable.