(MENAFN) Lindt & Spruengli, Swiss-based chocolate maker, is in advanced talks to buy Russell Stover, family-owned US candy business, The Peninsula Qatar reported.
Amid unclear exact price being determined, a figure of USD1.4 billion is being discussed, the Financial Times said.
A deal with Russell Stover would enable Lindt to diversify further beyond the European market and get a strong presence in the US market.
It is noted that the US Russell Stover has annual sales amount of about USD600 million, the Financial Times reported.
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