Hotel Chocolat raises £40m as it aims to become 'digital-led' brand

Premium chocolatier Hotel Chocolat said on Friday that it has raised £40m in a share placing as it looks to become a "digital-led" chocolate brand.

The company placed just over 11.1m new ordinary shares at 355p each. The placing was conducted by way of an accelerated bookbuild process with Liberum and Peel Hunt acting as joint bookrunners.

Co-founder and chief executive Angus Thirlwell said: "The £40m growth capital raised today will be invested in our fast-growing business, furthering our aim of becoming a global digital-led chocolate brand. I'm delighted that our issue was oversubscribed, demonstrating the support Hotel Chocolat enjoys with its investors."