Founders take back control of struggling chocolate brand Montezuma’s

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07-Jun-2023 - Last updated on 07-Jun-2023 at 15:46 GMT

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Montezuma's was bought in 2018 by Edinburgh-based private equity firm Inverleith LLP. The brand was founded by husband-and-wife Helen and Simon Pattinson in 2000, who remained as ambassadors and directors after the takeover.

The premium chocolate maker, whose bars sell for £3 in John Lewis, Waitrose and Sainsbury's, filed a notice for administration two weeks ago after being hit by high costs. The Paramount Retail Group, which had previously rescued the fudge and toffee maker Bristows of Devon and is run by brothers Sunny and Ravi Sharma, is believed to have paid approximately £1 million for Montezuma's.

Describing it as a "great acquisition​", Paramount's chairman, Paul Taylor, said: "In recent years, there have been so many distressed businesses that we have been able to pick the ones that fit in."​

Simon and Helen 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 launched over 25 years ago and the award-winning, ethical brand produces premium chocolate products also had a growing number of high-profile export outlets.

Ravi Sharma, Executive Director at Paramount 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. A complete package​’

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