- Reuters•3 months ago
In his last few months as chief executive, Lindt & Spruengli veteran Ernst Tanner wants to bring the Swiss chocolate maker's trailing U.S. business Russell Stover up to speed. The brand, famous in the United States for its Whitman's sampling boxes, has weighed on the performance of Lindt since it was bought in 2014. In Lindt's half-year results reported on Friday, overall sales growth was squeezed to 4.4 percent from 6.6 percent when Russell Stover was taken into account.
- Reuters•7 months ago
Lindt & Spruengli said on Tuesday it would focus on profitability at its Russell Stover business in the United States, which will mean trimming some products and sales promotions. Lindt bought the Missouri-based Russell Stover in 2014, a deal which made the Swiss premium chocolate maker the third biggest the U.S. market, behind Hershey and Mars. The $1.5 billion acquisition cemented North America as Lindt's largest market, accounting for just shy of half of 2015 group revenues, or about $1.6 billion, up from $943 million before the purchase.
- Reuters•2 years ago
* Will tap U.S. appetite for "affordable premium" chocs * Analysts surprised by choice of non-luxury U.S. firm ZURICH, July 14 (Reuters) - Switzerland's Lindt & Spruengli has agreed to buy U.S. candy maker Russell Stover in a billion-dollar deal that makes it the third-biggest chocolate maker in the United States behind Hershey and Mars. Lindt did not disclose the price of the deal that will give it the family-owned firm whose pralines were made famous by the movie "Forrest Gump" - and with it, access to U.S. consumers' rising appetite for higher-quality affordable chocolates.
LINDT PS (LISP.SW)
Swiss - Swiss Delayed Price. Currency in CHF
|Day's Range||5,315.00 - 5,380.00|
|52wk Range||5,255.00 - 6,300.00|
|1y Target Est||N/A|
|P/E Ratio (ttm)||N/A|
|Avg Vol (3m)||2,333|
|Dividend & Yield||N/A (N/A)|