Swiss chocolate-maker Lindt & Spruengli is said to be in advanced talks to buy Russell Stover, the US family-owned confectionary group.
Russell Stover is America’s largest maker of boxed chocolates through its three main brands Russell Stover, Whitman’s, and Pangburn’s.
The Ward family, which bought the company from its founders in 1960, has hired Goldman Sachs as adviser after putting the business up for sale earlier this year.
A deal between Lindt and the Ward family could be announced as early as next week, according to the Financial Times. It is unclear whether an exact price had been agreed upon, but the newspaper said a figure close to $1.4bn was being discussed.
Lindt, best known for its gold foil-wrapped bunnies and Lindor ball, sells premium chocolates in over 100 countries. The deal would help Lindt gain a foothold in the US mass consumer market.