Theo Chocolate shuttering factory after 18 years in Seattle
Theo will be merging with the Indiana-based American Licorice Company.
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SEATTLE — An iconic Seattle chocolate brand will be closing its manufacturing operations and laying off staff later this year.
Theo Chocolate announced Wednesday it is restructuring its operations, part of which includes closing its Seattle manufacturing.
"We are so grateful for the support of our customers and community for the past 18 years, as Theo has grown from a local company to a nationally-distributed brand it is today," the company said in a statement. "Our commitment to delivering delicious, organic, ethically sourced chocolate will remain unchanged through the transition ahead, and we will continue our presence in Seattle through our headquarters, Flagship Store and Confection Kitchen. We hope we’ll have the chance to prove this commitment to you in the future as we work through this time of transition for Theo."
The move comes as Theo plans to merge with American Licorice Company in a transaction expected to close "in the third quarter of 2023."
Theo said 60 of its employees will be separated as part of the restructure in September. Theo's headquarters will remain open in Seattle, but factory tours will cease Aug. 30 as manufacturing operations are wound down.
“We are incredibly grateful for our dedicated team members who have championed Theo’s mission,” said Etienne Patout, CEO of Theo Chocolate. “We are committed to supporting those impacted by the transition ahead. Impacted employees were offered a severance package, including COBRA medical coverage and payouts of PTO balances, as well as access to mental health and job search resources.”
Source: KING5.com
