Looking for Russian Chocolate In the United States For your Bride?

It should be easier to buy Russian chocolate in the United States in the future since American gum and candy producer, Wm Wrigley Jr. Co., has moved into the chocolate business by purchasing an 80% share of the Russian company, A. Korkunov. The transaction cost $300 million. Wrigley is funding the purchase with cash and a small amount of debt and plans to purchase the remaining 20% over time.

Wrigley first tried to get into the chocolate market 4 years ago by putting out an offer for Hershey Co, but was rejected. The Korkunov chocolate company is approximately 1/50th the size of the Hershey company and made an estimated $100 million in sales in 2006. Korkunov has more than 15 types of filled chocolates, 2 kinds of chocolate bars, and various hand-made items.

A spokesman for Wrigley says that they look forward to the opportunity to expand and create value in marketplaces around the world.

This makes it easier to buy sweets for your sweetheart in both countries – especially if it allows the Korkunov brand to become more accessible in the US, men can buy chocolate for their beautiful Russian brides.

The acquisition will not be final until the closing conditions and regulatory clearance issues are completed.

This entry was posted on Tuesday, January 23rd, 2007 at 10:07 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.