Mast Brothers, a bean-to-bar chocolate maker, is closing its stores in Los Angeles and London to focus on expanding its 65,000-square-foot production facility in Brooklyn, N.Y. All of its chocolate operations will now be based out of Brooklyn, and focus on wholesale production, with production capacity increasing to $100 million in annual chocolate sales from under $10 million in previous years, according to an article in Fortune.
The investment is being funded by a small group of angel investors that the chocolate maker says does not include any Big Food manufacturers. The company recently was under fire as rumors swirled that it melted down industrial chocolate to make its products.
Mast Brothers also recently focused its efforts on a smaller, 1-ounce bar that retails for $3, a lower price point than the 2.5-ounce bars it had offered that retailed between $7 and $8. “We are looking to reinvent the chocolate category,” said Rick Mast, co-founder and CEO in the Fortune article. “We want that to really be led by our chocolate bars.”