OREANDA-NEWS. Hotel Chocolat Group Limited, a premium British chocolatier and omni-channel retailer, announces its intention to seek admission of its Shares to trading on AIM, a market of the London Stock Exchange ("Admission"). Liberum Capital Limited is acting as Nominated Advisor and Sole Broker to the Company in relation to Admission.

Hotel Chocolat is a vertically integrated chocolatier, manufacturing and retailing premium chocolate and chocolate-related products direct to customers. The Group sells its products online and through a network of 84 stores in the UK and abroad, and in the year ended 28 June 2015 had an audited revenue and EBITDA of £81.1 million and £7.9 million respectively. The business was founded in 1993 by Angus Thirlwell and Peter Harris and has traded under the Hotel Chocolat brand since 2003. 

Placing highlights 

•  Expected aggregate placing proceeds of approximately £50 million from the issue of new Shares by the Company and sale of existing Shares by certain selling shareholders (the "Placing"). 

•  Net proceeds receivable by the Company pursuant to the Placing will be used to accelerate the Group's growth strategy (further details below). 

•  Admission expected to occur in Q2 2016. 

Key strengths 

•  The Company has a proven track record of sustainable and organic sales growth, profitability and strong cash generation. 

•  84 shops, including five "shop + cafe" formats, two flagship sites and three Copenhagen sites. 

•  Approximately 500,000 active customers engaged through the Company's website. 

•  Over 5 million transactions (year ended 28 June 2015) and £15 (excl. VAT) average transaction value. 

•  Hotel Chocolat has a strong and distinct brand that is built on authenticity, originality and ethical trading. 

•  The Company has an experienced and stable management team, led by Angus Thirlwell and Peter Harris who founded the original business over 20 years ago. 

•  The Directors believe Hotel Chocolat is the UK's favourite premium chocolate brand, providing a differentiated, cocoa-rich taste at an accessible price point. 

•  The Group's Tasting Club has over 70,000 loyal members who score new chocolate ideas on a regular basis to participate in the evolution of the Company's product range, ensuring regular product innovation. 

•  The Group has a vertically integrated business model, spanning manufacturing and direct retailing and includes part of its cocoa supply coming from the Rabot Estate in St Lucia, which gives it increased control to ensure a premium product for customers. 

Strategy 

•  Continue store rollout with proven store formats. 

•  Invest in increasing the Group's UK manufacturing capacity. 

•  Improve the Group's digital offering, including a new website (expected in Summer 2016) and enhanced mobile/tablet compatibility. 

Angus Thirlwell, Co-Founder and Chief Executive Officer 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."