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Swiss chocolate maker Lindt & Spruengli said on Monday that it has reached an agreement to buy the US company Russell Stover Candies, making it the third-largest player in the North American chocolate market.
Lindt’s group revenues in North America will climb after the takeover to an annual $1.5 billion, the company said from its headquarters in the Swiss town of Kilchberg.
The chocolates made by Russell Stover, which is based in Kansas City, Missouri, had a starring role in the film Forrest Gump , in which Tom Hanks delivered the catchphrase, “My momma always said life was like a box of chocolates — you never know what you’re gonna get.” The family-owned company sold about $500 million of sweets last year.
Lindt’s sales amounted to 2.9 billion Swiss francs ($3.2 billion) in 2013.
In the first half of this year, the Swiss chocolate maker saw its net profit grow 40 per cent, compared with the same period last year, to 48.8 million francs.
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