Lindt eyes sweet taste of Russell Stover
Fin24 - Jul 16th 2014, 11:42
New York - Swiss chocolatier Lindt & Spruengli is considering buying for about $1.5bn US company, Russell Stover, famed for its boxed chocolates, The Wall Street Journal reported Sunday.
The Wards, the family that bought Russell Stover from its founders in 1960, put it up for sale earlier this year and hired Goldman Sachs Group to execute the deal.
Lindt & Spruengli reported record results in 2013 and has big international ambitions to expand its presence in markets including North and South America.
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Swiss chocolate maker Lindt & Spruengli said it expected organic sales to grow 5-7 percent this year, in line with mid-term targets, as it works to improve the performance in its North American unit.
Lindt & Sprüngli reports weakest sales growth in nearly a decade
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Swiss chocolate maker Lindt & Sprüngli reported its weakest sales growth in nearly a decade on Tuesday, hurt by ongoing problems at its Russell Stover business.
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