The Lindt & Sprüngli Group, manufacturer of premium quality chocolate worldwide, is to acquire the traditional US family business Russell Stover Candies, Inc. headquartered in Kansas City, Missouri. This will greatly complement Lindt & Sprüngli's existing premium chocolate portfolio in the world's biggest chocolate marketplace.
Russell Stover was founded in 1923 in Denver and soon focused on the manufacture of top quality gift pralines, a product which ranks highly in the US chocolate tradition. In 1993, Russell Stover acquired the Whitman's brand which was founded in 1842 and is one of the country's oldest names in chocolate. Today, Russell Stover/Whitman's is a leading manufacturer of pralines and seasonal candies in North America. Russell Stover/Whitman's makes chocolate products at four production sites. Its latest turnover stood at around USD 500 million.
This biggest and most important strategic acquisition in the company's history will give Lindt & Sprüngli an established presence throughout the USA with its LINDT, GHIRARDELLI, RUSSELL STOVER and WHITMAN'S brands. The addition of the Russell Stover and Whitman's brands perfectly complements Lindt & Sprüngli's existing chocolate portfolio and will make the company the Number 3 North American chocolate manufacturer.
The Lindt & Sprüngli Group will now expand its already strong and dynamic U.S. chocolate portfolio with the addition of a variety of products from Russell Stover/Whitman's, including gift pralines, chocolates for St. Valentine's Day - one of the most important chocolate gifting occasions in the USA - Easter and Christmas, as well as sugar-free chocolates. With the Russell Stover/Whitman's brand portfolio, Lindt & Sprüngli will significantly strengthen its leading position in the chocolate industry and will become the Number 3 chocolate manufacturer in North America. As an increasingly important strategic and growth-oriented partner, Lindt & Sprüngli will also greatly strengthen its relationship with the retail trade.
In 1992, before the present Group Management took responsibility for the group of companies, Lindt & Sprüngli achieved a turnover of some CHF 30 million in North America. This new strategic acquisition means the group will pass the USD 1.5 billion turnover mark in North America in 2015 where it is set to be the fastest growing chocolate corporation. The acquisition of Russell Stover/Whitman's clearly signals Lindt & Sprüngli's intention to improve its market position in North America and further enhances the significant contribution which it already makes to the dynamic growth of the premium chocolate segment.
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