Lindt has acquired confectionery Russell Stover for $1.5 billion.
The move is the biggest acquisition in the Swiss chocolate maker’s history. Lindt is now the third-largest chocolate manufacturer in North America behind only Mars and Hershey (HSY).
The Swiss company expects North American sales to exceed $1 billion this year. That number should be up to $1.5 billion in 2015 thanks to the acquisition of Russell Stover, according to the company.
Lindt focuses on premium chocolate and candy offerings including the popular Lindor truffles. Russell Stover makes boxed chocolates that tend to sell well during holidays, especially on Valentine’s Day.
HSY stock is down 1.2% Monday afternoon.
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