Swiss chocolate manufacturer Lindt & Sprüngli has announced plans to grow its share of the Brazilian market through a joint venture with local player CRM Holding.
Lindt has set up a Brazilian subsidiary, Lindt & Sprüngli (Brazil) Holding, which will hold 51% of the newly established joint venture, the company revealed today (11 March).
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The two companies will work on establishing what Lindt called its “internationally successful retail concept” in Brazil. At the same, Lindt will continue its current deal with a local distributor to push its products through Brazil’s retail sector.
The Lindor owner said CRM is a “chocolate retail specialist” and a “leader” in the premium chocolate market in Brazil under its Kopenhagen brand.
Lindt said: “This is to be understood as a clear sign that Lindt & Sprüngli puts a strong focus on the fifth biggest chocolate market of the world. Lindt & Sprüngli will continue to invest in the brand as well as in the distribution of its products, to foster growth in this dynamic market and to sustainably support the awareness of Lindt as a Swiss premium chocolate brand rich in tradition.”
News of the venture came as Lindt reported higher sales and earnings for 2013.
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