The manufacturer said it would use the investment to expand the distribution of its chocolate products in the UK and overseas. Meanwhile, it would continue to focus on chocolate innovation – including its vegan Like No Udder range and its 100% cocoa Absolute Black products.
Commenting on the Inverleith investment, Montezuma’s co-founder Helen Pattinson said: “After eighteen years at the helm, we knew this was the right time to seek additional investment and the right partner.
“It was extremely important for us to find and work with an investor partner who would recognise and respect the company and brand we have created and love, our values, our innovative approach and the quality of our products.”
Fellow co-founder and Helen’s husband Simon said the deal would help the company capture new opportunities for the brand both in the UK and overseas.
Following the sale and after a period of transition, the Pattinsons plan to step back from the day-to-day running of the business, while retaining roles as ambassadors and directors for the company.
Commenting on the acquisition, Inverleith managing partner Paul Skipworth called Montezuma’s a fantastic addition to the firm’s portfolio of investments.
“Montezuma’s long-standing ethical position and track record of innovation position the brand perfectly to capture strong consumer desire for authentic, premium, artisanal brands,” said Skipworth.
‘A leading player’
“It is already a leading player in the high growth segments of the chocolate market with enormous opportunity for the brand both in the UK and internationally.”
Founded in 2000, Montezuma’s manufactures chocolate bars, truffles and gifting products and has retail stores in the southeast of England and London. The company also runs a subscription service that posts chocolate bars to consumers each month.
Meanwhile, a coconut-based snacks brand founded by a university dropout has been sold to a private investor currently operating in the food and drink market.