Paramount Retail Group scoops up Montezuma’s Chocolate

Paramount Retail Group (PRG) has acquired all assets of chocolate manufacturer and brand, Montezuma’s Chocolate, for an undisclosed sum.

Montezuma’s was acquired by private equity company Inverleith in November 2018, at which point its founders stepped back. The company reportedly hired advisors to find a buyer for the business and provide Inverleith with an exit.

Following the purchase by PRG, founders Helen and Simon Pattinson, are said to be back at the “helm” of the company.

They commented: “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, which launched over 22 years ago, produces premium chocolate products that can be found in major UK retailers and a growing number of high-profile export outlets.

Ravi Sharma, executive director at PRG, commented: “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”.

Paul Taylor, chairman of PRG said the acquisition marks the next step in PRG’s ambition to become a “highly profitable £200m group” within the next 18 months.

Founder Helen Pattinson concluded: ‘’We’re delighted to be part of the Paramount family and feel that this is such an exciting time for the business”.