Ward family received $1.5 billion from sale of Russell Stover

The Ward family of Kansas City received $1.506 billion from the sale of Russell Stover Candies Inc. to Swiss company Chocoladefabirken Lindt & Sprüngli AG,

the

Kansas City Business Journal

reported,

citing Lindt’s annual report.

The article said the annual report broke down the $1.5 billion purchase price into $787.16 million for fair value of the acquired net assets and $719.45 million in goodwill. “The total purchase price is three times the $500 million in annual sales that Russell Stover generates,” the journal article said.

The report noted that Russell Stover is the market leader in assorted pralines, Valentine hearts and sugar-free chocolate.  (Source:


Kansas City Business Journal


, March 10, 2015.)