Lindt & Sprüngli to acquire Russell Stover Candies
July 14, 2014
by Keith Nunes
|Lindt & Sprüngli's acquisition of Russell Stover Candies will expand the company's U.S. presence through its Lindt, Ghiradelli, Russell Stover and Whitman’s brands.
ZURICH, SWITZERLAND — Swiss chocolate manufacturer Lindt & Sprüngli has entered into an agreement to acquire Russell Stover Candies, Inc., USA. Terms of the agreement were not announced.
Lindt & Sprüngli said the acquisition will make it the third largest chocolate manufacturer in North America and give the company an established presence in the United States through its Lindt, Ghiradelli, Russell Stover and Whitman’s brands.
“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,” said Ernst Tanner, chairman of the Lindt & Sprüngli.
Based in Kansas City, Russell Stover Candies has annual sales of approximately $500 million. The company operates four manufacturing plants in the United States and is best known as a manufacturer of pralines and seasonal candies in North America.