The Lindt & Sprüngli Group announced Monday that it had a definitive agreement to buy Russell Stover Candies Inc., which will maintain its headquarters in Kansas City. Russell Stover, founded in 1923 by the Ward family, reported sales of $655 million last year, making it the 19th largest private company in the Kansas City area.
The deal will pair the Russell Stover and Whitman’s brands with the Lindt and Ghirardelli brands and make Lindt the third-largest chocolate maker in North America. The Wall Street Journal previously reported that suitors valued Russell Stover at more than $1 billion. Lindt traces its history back 170 years in Zurich, Switzerland.