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Russell Stover may be sold for more than $1 billion

America’s third largest chocolate company considers selling

February 26, 2014
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Russell Stover, the top seller of fine-boxed chocolates in the U.S., could sell for more than $1 billion, The Wall Street Journal reports.

It is unclear why Russell Stover is considering a sale, but Goldman Sachs Group Inc. is helping to pick the price tag according to The Wall Street Journal.

Russell Stover didn’t intend to publicize the ongoing matter, but released a statement Friday after the story leaked.

It isn’t for certain the company will follow through with the sweet deal. It’s largely focused on learning the perceived value, says Robbie Vorhaus, a company spokesman.

“There is no imminent sale,” Vorhaus says. “It’s part of a strategy for how to continue to grow and build the business.”

The Ward family has run the 91-year-old Kansas City company since Louis Ward bought it from Stover’s widow in 1960.

It is the country’s third largest chocolate maker after Hershey and Mars, focusing mostly on boxed and gift chocolates as opposed to candy bars.

Born in a bungalow candy shop, it now sells in more than 70,000 drug stores, card and gift shops, grocery stores, department stores and retail stores throughout the U.S. and Canada.

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