Lindt & Sprüngli Group announced on Monday that it has reached an agreement to purchase Russell Stover Candies. The Russel Stover and Whitman's brands will complement Lindt & Sprüngli's existing portfolio of premium chocolates, making it the No. 3 North American chocolate manufacturer, the company said.
The same weather factors that are boosting allergy sales as the allergy season is extended may be having a substantial impact on the sales of anti-itch ointments, up 10% to $528.2 million across U.S. multi-outlets for the 52 weeks ended April 20, according to IRI, and insect bite treatments, which totaled $13.6 million and were up 19.4% over the same period.
Shrinkage levels average 1.27% of sales, which translates to a $57 billion loss to the industry, according to the U.S. Retail Fraud Survey, which is based on research into the systems and strategies used by 100 leading North American retailers.
Pinnacle Foods announced on Monday that it has terminated its merger agreement with Hillshire Brands, originally announced May 12. Pinnacle is a producer of such branded food products as Vlasic pickles, Mrs. Butterworth syrups and Wishbone salad dressings.