Swiss Giant Nestlé has increased its stake in artisan chocolatier Pierre Marcolini from seven per cent to 29 per cent.
Pierre Marcolini made the announcement earlier this month, according to Swiss newspaper Le Matin.
Nestlé had acquired its seven per cent stake in 2007, with an option to convert part of a debenture loan into further shares in the company if necessary.
The move is expected to help Pierre Marcolini improve its financial results while reducing its debt.
The company suffered losses during the financial crisis in 2008-2009. An improvement is expected for 2009-2010.
In addition to stores in Belgium, Brussels-based Pierre Marcolini has shops in Paris and Tokyo. The company, which currently has 230 employees, plans to open shops in London and Kuwait, with further projects in China and Taiwan on the horizon.
The remaining capital is held by the Marcolini family’s holding company.
Pierre Marcolini, who has two shops in Paris, is famous for his “haute couture” chocolates.