Theo Chocolate intends to merge with American Licorice

Theo Chocolate plans to merge with American Licorice Company (ALC).

This proposed transaction follows Theo’s decision to restructure its operations, which will result in the closing of its Seattle manufacturing and reductions in office staff.

As part of ALC, Theo would join their portfolio of organic and better-for-you brands, including Torie & Howard and Zing Bar.

“Like other businesses, we are contending with rising costs across all aspects of our manufacturing and supply chain, requiring us to change. We’ve had to make some tough but necessary decisions to ensure the company’s long-term viability,” said Etienne Patout, CEO of Theo Chocolate.

Approximately 60 Theo employees will be affected by the restructure.

The operational changes are in process and the proposed transaction is expected to close in the third quarter of 2023.