Italian coffee and chocolate dynasty Illy has bought Prestat, the UK chocolatier said to be an inspiration for Roald Dahl’s book Charlie and the Chocolate Factory.
Riccardo Illy, president of Gruppo Illy, said he had been wooing Prestat for two years and added that the attraction of Prestat, which is a supplier to the UK royal family, was its chocolate truffles in particular.
Illy already owns chocolatier Domori and with the acquisition of Prestat it’s aiming at strengthening the production and sales of super premium products
While the value of the acquisition is undisclosed, Gruppo Illy made €18.3m last year in sales, of which half came from chocolate.
The plan is for Prestat’s former owner Bill Keeling, who learnt about the cocoa business as a Financial Times west Africa correspondent, to remain as manager. Prestat’s historic shop in Piccadilly, London, will also remain within the business. The deal comes as consumer demand for luxury chocolate and food in general is on the rise.
While the value of the acquisition is undisclosed, Gruppo Illy made €18.3m last year in sales, of which half came from chocolate.
