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Thorntons
Thorntons Limited is a British chocolate manufacturer owned by the Italian confectionery company, Ferrero. It was established in 1911 by William Joseph Thornton and Joseph Thornton, his father, in Sheffield, Yorkshire, England.
When Cadbury became part of the Mondelez International predecessor Kraft Foods, Thorntons had become the largest confectionery-only parent company in Britain. The company was purchased by the Italian firm Ferrero in June 2015 for £112m.
Until and during the Second World War, the company was an established toffee and fudge maker. With post war rationing ending, the group's primary focus shifted to Belgian and Swiss-style chocolate in sets.
Thorntons began in Sheffield in 1911, the business being started by William Joseph Thornton (1870–1919), who co opened the company's first shop, at 159 Norfolk Street. William Norman Hinsby Thornton (1896–1984), his son, became the manager, at the age of just 15. Later in the company's history, Peter Thornton (grandson of the founder) served as chairman, but was dismissed from the role in June 1987.
After rapid expansion, the results of 2009 showed turnover increasing to £214.8 million, but operating profit decreasing to £7.94 million. A perennial seasonality in sales disappointed strategists and employees.[citation needed] 35% of the sales were in the seven week period before Christmas, and 10%, shortly before Easter Sunday.[citation needed]
The scale of impact of this, on manufacturing and service, are more pronounced than the average in the food sector, necessitating temporary staffing.[citation needed] Jonathon Hart joined the business, as chief executive officer, in January 2011. Following another resultant strategic review, in June 2011, Thorntons announced it would close between 120 and 180, of its shops.
It was announced in June 2015 that chocolate producer Ferrero would buy Thorntons, for £112 million. Thorntons Ltd are 75% owned by Ferholding UK Ltd, which, in turn, is controlled by Giovanni Ferrero (who holds over 50% of voting rights).[citation needed]
With Ferrero investment into the business to try to increase revenue, through the financial year of 2017 to 2018 sales and production increased. Fewer new shops were opened with some existing locations diversified into cafés, selling a range of both eat-in and take-away food and drinks alongside the traditional confectionary lines. In 2020, Thorntons won the Lausanne Index Prize - Bronze Award.
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Thorntons
Thorntons Limited is a British chocolate manufacturer owned by the Italian confectionery company, Ferrero. It was established in 1911 by William Joseph Thornton and Joseph Thornton, his father, in Sheffield, Yorkshire, England.
When Cadbury became part of the Mondelez International predecessor Kraft Foods, Thorntons had become the largest confectionery-only parent company in Britain. The company was purchased by the Italian firm Ferrero in June 2015 for £112m.
Until and during the Second World War, the company was an established toffee and fudge maker. With post war rationing ending, the group's primary focus shifted to Belgian and Swiss-style chocolate in sets.
Thorntons began in Sheffield in 1911, the business being started by William Joseph Thornton (1870–1919), who co opened the company's first shop, at 159 Norfolk Street. William Norman Hinsby Thornton (1896–1984), his son, became the manager, at the age of just 15. Later in the company's history, Peter Thornton (grandson of the founder) served as chairman, but was dismissed from the role in June 1987.
After rapid expansion, the results of 2009 showed turnover increasing to £214.8 million, but operating profit decreasing to £7.94 million. A perennial seasonality in sales disappointed strategists and employees.[citation needed] 35% of the sales were in the seven week period before Christmas, and 10%, shortly before Easter Sunday.[citation needed]
The scale of impact of this, on manufacturing and service, are more pronounced than the average in the food sector, necessitating temporary staffing.[citation needed] Jonathon Hart joined the business, as chief executive officer, in January 2011. Following another resultant strategic review, in June 2011, Thorntons announced it would close between 120 and 180, of its shops.
It was announced in June 2015 that chocolate producer Ferrero would buy Thorntons, for £112 million. Thorntons Ltd are 75% owned by Ferholding UK Ltd, which, in turn, is controlled by Giovanni Ferrero (who holds over 50% of voting rights).[citation needed]
With Ferrero investment into the business to try to increase revenue, through the financial year of 2017 to 2018 sales and production increased. Fewer new shops were opened with some existing locations diversified into cafés, selling a range of both eat-in and take-away food and drinks alongside the traditional confectionary lines. In 2020, Thorntons won the Lausanne Index Prize - Bronze Award.