London-based sustainable chocolate business, Love Cocoa, has secured a $4.25 million investment funded by venture capital investor, Richard Koch.
The funds will be used to grow Love Cocoa’s senior management team, launch its first brick-and-mortar store and expand retail distribution.
Established by James Cadbury, a descendant of the Cadbury brand founder, the business is made up of luxury chocolate brand, Love Cocoa, and vegan oat-milk chocolate brand, H!P Chocolate.
Love Cocoa chairman and serial fast-moving consumer goods entrepreneur, Giles Brook, said: “Love Cocoa continues to rise and rise, becoming one of the leading luxury chocolate brands, while H!P is making a name for itself as the standout vegan-based chocolate brand winning on taste and importantly (non) milky texture, where it is replicating its dairy counterparts incredibly.”
Cadbury commented: “I’m delighted to have Richard and his team’s backing. I’m excited to be working with him on driving the strategic development of both Love Cocoa and H!P Chocolate, helping propel them from challenger brands to chocolate industry powerhouses.”
Koch added: “Love Cocoa and H!P Chocolate are at the forefront of sustainable chocolate innovation. I’m looking forward to supporting the business on the next stage of its incredible journey.”
© FoodBev Media Ltd 2023
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