Who are the founders of Hotel Chocolat, Angus Thirlwell and Peter Harris, as the company is acquired by Mars?

Hotel Chocolat, the British confectionery venture co-founded by Angus Thirlwell and Peter Harris in 1993, has been acquired by Mars for a substantial £534 million. This acquisition comes as a crucial step for Hotel Chocolat, a company that found itself on the verge of bankruptcy due to challenges in its international expansion endeavours. Despite success in the UK with about 125 shops, the company struggled to navigate operational supply chain issues abroad, resulting in the closure of its five US locations last year.

The deal with US confectionery giant Mars, is anticipated to provide Hotel Chocolat with the resources and expertise needed to surmount these challenges and expedite its growth on a global scale. Co-founder Angus Thirlwell, who will continue as chief executive, emphasizes the operational hurdles faced "behind the scenes," including manufacturing in foreign countries and distribution. Mars' involvement is expected to offer solutions to these intricacies and facilitate Hotel Chocolat's international ambitions.

Angus Thirlwell and Peter Harris, each holding a 27% stake in Hotel Chocolat, stand to gain £144 million from the acquisition. In a commitment to the company's future, Thirlwell plans to reinvest 80% of his windfall back into Hotel Chocolat. It is hoped that the strategic partnership with Mars marks a pivotal moment for the confectionery brand, providing the necessary support to navigate the challenges of global expansion and capitalize on the international appeal of Hotel Chocolat's premium offerings.

Who is Angus Thirlwell?

Angus Thirlwell, the chocolatier extraordinaire and founder of Hotel Chocolat, was born and raised in Newcastle, Thirlwell's journey into the world of chocolate was influenced by his father, Edwin Thirlwell, the creator of the iconic “Mr Whippy” ice cream brand.

The Thirlwell family's relocation to Barbados when Angus was just three years old marked the beginning of his lifelong love affair with cocoa; surrounded by Caribbean culture, Thirlwell developed a taste for chocolate and a keen interest in its production. His father's entrepreneurial spirit, seen in the creation of “Mr Whippy,” likely played a role in inspiring Angus to pursue his own path in the sweet treat industry.

Returning to the UK, the family settled in North Yorkshire, where Edwin set up a new business venture, Prontaprint. Angus, having witnessed his father's success, embarked on a career in computing. However, the desire for something "simpler" led him to co-found Hotel Chocolat alongside Peter Harris after six years of designing mints.

Hotel Chocolat, born out of the idea of providing ethical and affordable luxury chocolate, quickly became a staple on UK high streets. With Angus's vision, the brand expanded to include 130 stores across the country, offering a delectable range of chocolates that prioritized quality and sustainability. The entrepreneur's ties to the Caribbean endured, with Hotel Chocolat's Saint Lucian cocoa estate serving as the inspiration for the brand's name. The estate features a luxury hotel overlooking a UNESCO World Heritage site and the Petit Piton Mountain, providing a picturesque backdrop to the chocolate-making process.

Angus Thirlwell's innovative approach to chocolate-making has garnered success in the UK, but global expansion presented challenges. The company's foray into North America faced difficulties, leading to the closure of stores and a subsequent 40% drop in shares. Despite the setbacks, Thirlwell remains committed to Hotel Chocolat's core ethos: less sugar and more cocoa.

Beyond the boardroom, Angus Thirlwell's personal affinity for chocolate is evident in his daily routine. Mornings begin with cocoa bean-infused water, while evenings conclude with a sweet treat or a mug of hot chocolate. This devotion to the craft and unwavering commitment to the brand's principles position Angus Thirlwell as what some refer to as being “ a modern Willy Wonka.”

Who is Peter Harris?

Peter Harris has played a pivotal role in the remarkable journey of Hotel Chocolat, as a co-founder alongside Angus Thirlwell. His early career path saw him qualify as a chartered accountant with Binder Hamlyn in London, providing him with a strong financial foundation. Peter's entry into the Cambridge high-tech community marked the beginning of a dynamic entrepreneurial journey. In 1981, he co-founded Torch Computers and served as a director until the company's sale in 1987.

Peter's achievements extend beyond the realm of business. He earned recognition as the Ernst & Young National Entrepreneur of the Year in 2008, a testament to his exceptional contributions to the business landscape. His passion for supporting emerging businesses is evident in his role as a business mentor for The Prince's Trust, where he has played a crucial role in helping several enterprises establish themselves. Peter has shared his insights with MBA groups at Cambridge University, as well as CUE (Cambridge University Entrepreneurs), demonstrating his commitment to nurturing the next generation of business leaders. 

In the initial 24 years of Hotel Chocolat's journey, Peter Harris served as the finance director, bringing his financial acumen to the forefront. However, his multifaceted approach has always extended beyond numbers, emphasizing the importance of customers, sales, and overall business development. The success of Hotel Chocolat, including its recognition on the Sunday Times/Virgin Atlantic Fast Track 100, reflects Peter's ability to balance rapid organic growth with profitability. His contributions have been critical in securing the company's position, with three appearances on the prestigious list, including claiming the No. 1 spot.