July 13 Swiss chocolate maker Chocoladefabriken
Lindt & Spruengli is in advanced discussions to acquire
family-owned U.S. candy business Russell Stover, according to a
source familiar with the matter.
Russell Stover, known for its boxed chocolates, is the
third-largest U.S. candy company by sales. Lindt is the maker of
Lindor chocolate balls and gold foil-wrapped chocolate bunnies.
Lindt said in March that its North American sales should top $1
billion this year.
The Ward family put privately held Russell Stover up for
sale earlier this year and has been working with Goldman Sachs
to find a buyer.
People familiar with the matter told Reuters previously that
Russell Stover could be valued at around $1 billion.
Representatives for Russell Stover and Lindt did not
immediately respond to a request for comment late Sunday.
Lindt is expected to announce its sales figures for the
first half of the year on Tuesday.
Russell Stover also produces Whitman's brand chocolates and
has its products in more than 70,000 drug stores, card and gift
shops, grocery stores, department stores and retail stores
throughout the United States and in more than 20 countries
The Financial Times previously reported the talks with
(Reporting by Olivia Oran; Additional reporting by Liana B.
Baker; Editing by Edwina Gibbs)