A group affiliated with Concordia University Wisconsin has purchased Red Elephant Chocolate, which had a presence in Milwaukee’s Third Ward for the past decade.

Red Elephant Chocolate owner Richard Koenings sold the assets of the business to Concordia Red Elephant Chocolates, an entity formed by the Concordia entrepreneurship nonprofit CU Ventures and investors including Concordia’s assistant dean of professional development Kenneth Harris Jr.

The university will operate the chocolate shop with some involvement from students, said Concordia business school dean and CU Ventures president Daniel Sem. Concordia Red Elephant Chocolates will operate out of the university’s culinary lab and won’t have a physical storefront.

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