Switzerland-based chocolate producer Lindt & Spruengli is in negotiations to purchase the US based candy business Russell Stover.
The value of the deal, which is likely to be announced early this week, is expected to be $1.4bn, Reuters reported.
Lindt & Spruengli's products are sold under the brand names Lindt, Ghirardelli, Caffarel, Hofbauer and Kufferle. The Company has six production sites in Europe and two in the United States.
The company has six production sites in Europe, two in the US and distribution and sales companies on four continents.
The acquisition of Russell Stover, which has annual sales of about $600m, would enable Lindt a strong presence in the US.
Known for its boxed chocolates, Russell Stover is the third-largest US candy company by sales.
Image: Lindt likely to acquire Russell Stover. Photo: Courtesy of Roland zh/Wikimedia Commons.
