US: Hershey silent over Russell Stover Candies buy rumour
Hershey has refused to comment on speculation it is one of the parties interested in buying Russell Stover Candies
Hershey has refused to be drawn on speculation it is one of the bidders looking to acquire US confectioner Russell Stover Candies.
According to a report carried by the Wall Street Journal, citing "people familiar with the matter" Hershey, Yildiz Holding and private equity firms have expressed an interest in the confectionery firm.
In email correspondence with just-food, a spokesperson for Hershey said: "Unfortunately, I can't provide answers to your questions. As a matter of company policy, we do not comment on rumors or speculation".
Russell Stover is best known for its boxed chocolate brands Russell Stover, Whitman's and Pangburn's. According to its website every 2.5 seconds, a Whitman's Sampler box of chocolates is sold.
The firm has reportedly hired Goldman Sachs to find a buyer for it and several bidders are reported to have submitted first round offers in excess of US$1bn.
Goldman Sachs and Yildiz Holding did not respond to requests for comment.
The Hershey Company - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service offe...
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
Yildiz Holding pursues the goal of maintaining its leading position in packaged food in Turkey, and expanding the range of categories in which it operates to out-compete the rising number of local and...
Hershey is poised for ongoing growth with a raft of new products about to be or recently launched. It is also becoming increasingly aggressive at targeting international markets to overcome what has l...
- Focus: Danone CEO Faber puts stamp on business
- Cleaning up Tesco will have mixed supplier impact
- General Mills US "priority" categories gain share
- The just-food interview: Doux CEO Arnaud Marion
- Interview part 2: BRF CFO Augusto Ribeiro
- General Mills outlines "aggressive" NPD drive
- Coles supplier payments broke competition law
- General Mills earnings drop one-third
- Kraft to reappraise business, says new CEO Cahill
- PepsiCo opens snacks plant in Saudi Arabia