Theo Chocolate to close Seattle factory, resulting in 60 layoffs
Jun 29, 2023, 12:51 PM
Theo announced Wednesday they would be merging with American Licorice Company which produces Red Vines. (Photo from Flickr @EliDuke)
(Photo from Flickr @EliDuke)
Theo Chocolate, which has been operating in Seattle since 2006, 聽their factory in the Fremont neighborhood later this year.
Factory tours will cease August 30 as manufacturing operations shut down.
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Theo announced Wednesday they will merge with American Licorice Company, which produces Red Vines. The merger is expected to close in the third quarter this year.
Etienne Patout, CEO of Theo Chocolate, said the company has gone from a local brand to one that is distributed nationally, and now, in order to keep up with that growth, they will need to “[enter] a new way of doing business to ensure the future of the company.”
“Like other businesses, we are contending with rising costs across all aspects of our manufacturing and supply chain, requiring us to change,” Patout said in a press release. “We’ve had to make some tough but necessary decisions to ensure the company’s long-term viability.”
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The factory’s closure will result in 60 employees losing their jobs. The company will keep its headquarters in Seattle, its flagship store and confection kitchen.
Patout said Theo remains committed to supporting those impacted by the transition. The company offered impacted employees a severance package that includes COBRA medical coverage, payouts of PTO balances, and mental health and job search resources.
“We are incredibly grateful for our dedicated team members who have championed Theo’s mission,” Patout said.
