USA: Lindt & Sprungli to acquire Russell Stover Candies
Lindt & Sprungli has acquired the American confectionery company Russell Stover Candies, in a move that will see Lindt become the third largest chocolate manufacturer in the USA. The company announced that the deal would allow it to penetrate further into the American market through brands including Lindt, Ghiradelli, Russell Stover and Whitman’s.
Russell Stover Candies was founded in 1923 and is based in Kansas City. The company has annual sales of around $500 million, employing around 2,700 staff in its four factories and 35 stores located mainly in the centre of the country.
According to BBC News, Lindt said it expected the deal to take its annual earnings in North America beyond $1.5 billion.
Ernst Tanner, chairman of Lindt & Sprungli, commented: “This biggest and most important strategic acquisition to date in Lindt & Sprüngli’s history is a unique opportunity for us to expand our North American chocolate business and will greatly enhance the group’s status in the world’s biggest overall chocolate marketplace”.
The purchase price was not disclosed.
Source: Food Business News / Granconsumo.tv