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Hopes for Thorntons

Ex-chairman believes Ferrero can halt chocolatiers’ 'fatal' decline

A THORNTONS family member who used to be chairman of the chocolate specialists, believes the company’s decline “would have been fatal” had Ferrero not stepped in, according to Retail Week.

Peter Thornton, grandson of the chocolatiers’ founder who left as chairman in 1987 and later attempted to buy the business, has urged Ferrero to return Thorntons to their retail roots if they complete the £112m acquisition.
The two businesses revealed last week that they had agreed Ferholding UK, a wholly-owned subsidiary of Ferrero incorporated in England and Wales on June 12 for the specific purpose on making the offer, to acquire the entire stockholding of Thorntons, paying 145p for each share.
The move has sparked fresh hope that the embattled retailers and manufacturers can be rejuvenated after they issued a profit warning last December.
But Ferrero have remained tight-lipped on their plans, with a spokesman only reaffirming to Retail Week that there would be an “all-encompassing” strategic review of the Thorntons business and operations.

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