Owners made $1.5 billion in Russell Stover sale, report shows

An assortment of Russell Stover chocolates. |Courtesy of BrokenSphere/Wikimedia Commons
An assortment of Russell Stover chocolates |Courtesy of BrokenSphere/Wikimedia Commons

The sale of Russell Stover Candies Inc. brought in $1.5 billion for the company’s former owners, the Ward family of Kansas City. That information came courtesy of the annual report published this week by Swiss chocolatier Lindt & Sprüngli, which announced its purchase of Russell Stover in July 2014.

The purchase price was about three times the $500 million in annual sales revenue that Russell Stover generates.

The company has more than 2,500 employees in Kansas City and has been in business since 1923. 

Lindt & Sprüngli has seen a 17.4 percent sales boost since buying Russell Stover. The purchase also makes the Swiss company the third-largest chocolate producer in the U.S. 

Read more from the Kansas City Business Journal


Tags:, , , ,

Leave a Reply