Mergers & acquisitions
Iconic London brand Rococo Chocolates bought by Prestat Group
Incoming CEO Micaela Illy said: “The Rococo brand has great momentum and last year achieved record sales of nearly £4 million, having grown by more than 30% over the last two years. The business’s exciting new product range and its strong team under the leadership of my predecessor Rupert Morley has driven strong growth in both retail and online channels.
“Sadly, the pandemic was not kind to smaller retail brands and the investment market is very volatile at the moment, so we were very fortunate to be able to take advantage of these extraordinary times to acquire the brand and with it, the opportunity to invest and build on the unique Rococo legacy built over the last 40 years.”
The Prestat Group is the proud holder of a Royal Warrant granted by Her Majesty Queen Elizabeth II, and is part of the renowned Gruppo Illy, alongside the fine chocolate brand Domori.
The acquisition combines two of the most renowned and established British Chocolate brands with a shared commitment to product quality and creates deep synergies for the group. Thanks to fine chocolate producer Domori, also part of Gruppo Illy since 2006, both brands will have complete control of the supply chain - from the cultivation and selection of raw materials, to the transformation of chocolate, up to the creation of creative recipes and direct distribution to the customer.
Rococo’s leadership in the retail channels, with shops in London’s Marylebone, Belgravia and Chelsea, as well as its proficiency in the online channels, with more than £1m in sales in 2021, will bring great know- how to the more wholesale focused Prestat.
Outgoing CEO Rupert Morley added: “Rococo Chocolates is an iconic British brand that has delighted generations of chocolate lovers. I was privileged to have the opportunity to build on the legacy of its esteemed founder Chantal Coady and I am delighted to be able to pass it on to Micaela Illy. This is an exciting time. The new owners strongly believe in the business and with Micaela’s energy and vision, Rococo will surely go on to achieve even greater things.”