Chocolate Works Expands West In Acquisition Of Moonstruck Chocolate

Chocolate Works has created a West Coast beachhead for its business with its first acquisition, Portland, Oregon’s Moonstruck Chocolate. Financial details of the deal were not disclosed.

As part of the acquisition, announced July 1, Moonstruck will close all its retail shops in the Portland area on Friday. Freeport, New York-based Chocolate Works presently has no plans to open new retail stores but is excited to open its delivery network in the West with the addition, said the company’s president, Joe Whaley. Specialty chocolate can be especially difficult to transport giving Chocolate Works an competitive advantage by its new West Coast presence.

Moonstruck, founded in 1993 and purchased by Russell Sneddon and his wife, Rachael, in 2020, made a name for itself in the Pacific Northwest as an ethically sourced small chocolate business with lifetime sales over $50 million, according to a press release. The company’s existing management and production structure will remain in place, with Chocolate Works taking over logistics in its new ownership role.

“Leading Moonstruck has been the highlight of my professional career,” said Sneddon in a statement. “I am so grateful to our amazing staff and loyal customers who have supported us all these years. We look forward to watching the brand’s growth and transformation under Chocolate Works as the brand expands from a regional favorite to the national stage.”

Whaley sees a lot of potential in the moonstruck calling the sale “perfect timing as business is booming” and noting that Moonstruck’s status as an all-natural, ethically-sourced brand “helps in this day and age.” Chocolate Works hopes to capitalize on integrating and expanding Moonstruck’s chocolate bar line into its portfolio. Currently, Chocolate Works online presence is centered on gift baskets, chocolate-covered treats, molded chocolates and truffles. The gourmet chocolate bars expands on the company’s product array and opens up a new consumer base.

Although not as big, the sale comes on the heels of Sanders Chocolates’ (as part of Second Nature Brands) acquisition by London-based private equity firm CapVest Partners in April.