Lindt Buys Russell Stover, Become Third Biggest Candy Maker in North America
-
- July 14, 2014
Swiss chocolate-maker Lindt is buying Russell Stover Candies for an undisclosed price and make Lindt the third-largest chocolate manufacturer in North America, after Hershey and Mars. Euromonitor forecasts that from 2013 to 2018, higher prices and smaller pack sizes will drive retail volume sales of chocolate down by 1% in the U.S. Lindt, which makes high-end chocolates with relatively higher prices, expects North American sales to top $1.5 billion next year with the acquisition of Russell Stover and its lower-priced products, compared to its forecast of $1 billion in sales in the region this year. TheStreet's Brittany Umar reports on heated competition in the candy business.
