|By PR Newswire||
|March 11, 2014 02:00 AM EDT||
KILCHBERG, Switzerland, March 11, 2014 /PRNewswire/ --
Lindt & Sprüngli establishes its first own subsidiary company in South America - L&S (Brazil) Holding Ltd. Lindt & Sprüngli Brazil is setting up a joint venture with the CRM Group, the market leader for Brazilian premium chocolate, who owns retail outlets under the label "Kopenhagen".
The purpose of the joint venture in which Lindt & Sprüngli will have a majority interest of 51 % is to make LINDT the leading international premium chocolate label in Brazil, by establishing the internationally successful retail concept.
In parallel, cooperation with the long-standing local distributor is to be continued with a view to marketing LINDT products in the retail trade. LINDT sales have been substantially increased in recent years; at the same time, the presence of LINDT products in the retail trade has been steadily expanded.
The establishment of the joint venture with the partner CRM Group is to be understood as a clear indication of Lindt & Sprüngli's long-term commitment to the world's fifth largest chocolate market and of its intention to continue to expand into new emerging markets.
About Lindt & Sprüngli: founded more than 165 years ago in Zurich, Lindt & Sprüngli is the global leader in the premium chocolate sector. Quality chocolate products by Lindt & Sprüngli are made at eight own production sites in Europe and the USA. They are distributed by numerous subsidiary companies and branch establishments and also via a comprehensive network of independent distributors all over the world. With some 9,000 employees, the Lindt & Sprüngli Group reported sales worth around CHF 2.88 billion in 2013.
Chocoladefabriken Lindt & Sprüngli AG
SOURCE Lindt & Sprüngli
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