Gifts Today magazine

Ex-Thorntons chairman: Ferrero can halt chocolatier's 'fatal' decline

A Thorntons family member who was chairman believes its decline “would have been fatal” had Ferrero not stepped in to acquire it, reports Retail Week.

Peter Thornton, grandson of the chocolatier’s founder who left as chairman in 1987 and later attempted to buy the business, has urged Ferrero to return Thorntons to its retail roots if it completes its £112m acquisition.

The two businesses revealed this week that they had agreed for Ferholding, a Ferrero subsidiary, to acquire the entire stockholding of Thorntons, paying 145p for each share.

It has sparked fresh hope that the embattled retailer and manufacturer can be rejuvenated after it issued a profit warning last December.

But Ferrero has remained tight-lipped on its plans for the retailer, with a spokesman only reaffirming to Retail Week that there would be an “all encompassing” strategic review of the Thorntons business and its operations.

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