LONDON: S-Ventures Plc has acquired 75.1% interest in Ohso Chocolate Limited through the issue of 3.281 million ordinary shares in S-Ventures to the shareholders of Ohso Chocolate, equating to approximately £295,400 at a price of 9p per share, a news release said.
S-Ventures has granted certain options to the founders of Ohso Chocolate, Andrew Marten and Liz Hallet, to exchange their combined 24.9% interest in Ohso Chocolate into shares of S-Ventures.
The exercise of these options by the Founders is contingent upon the future financial performance of Ohso Chocolate.
Ohso Chocolate is a probiotic chocolate company, promoting healthy daily regime snacking.
Ohso Chocolate has developed its products with a unique microencapsulation process, ensuring a proven 3 times more effective delivery into the gut than the more common liquid dairy alternatives.
The Ohso “no added sugar” variants and delivering portion control bars are highly relevant and effective at a time when high sugar products are being withdrawn from the market place. Ohso Chocolate has an established and successful direct-to-consumer subscription model and relationships with certain key retail partners.
Under the umbrella of S-Ventures, Ohso Chocolate will look to develop the brand’s product range, continue to grow its existing product lines and consider partnering opportunities with other major brands to utilise its technology. The existing Ohso Chocolate team will remain in place and we welcome the Founders to S-Ventures. Andrew will remain MD of Ohso Chocolate.
Chairman David Mitchell commented “we are delighted to have acquired our stake in Ohso Chocolate and we very much look forward to working with Andrew and the team. The product has achieved great results and progress but together we believe we can grow faster and exploit opportunities more effectively in the healthy probiotic space”.