UK: Chocolate brand Montezuma’s sold to Paramount Retail Group

Paramount Retail Group (PRG), a UK owner of pet care and food brands, is acquiring all the assets of upscale chocolate maker Montezuma’s, according to a FoodBev report.

Commenting on the deal, Ravi Sharma, executive director at PRG, said: “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”.

PRG chairman Paul Taylor added that the purchase was the next step in the company’s aim to become a “£200m group” within the next 18 months.

The Grocer recently reported that Montezuma’s had hired advisors to find a buyer for the business, which had been under the ownership of private equity fund Inverleith since 2018.

The deal will also reportedly see Montezuma’s original founders Helen and Simon Pattinson return to the “helm” of the company.

Source: FoodBev / The Grocer / Paramount Retail Group