Lindt to Acquire Russell Stover and More Industry News
Recipe of the day
This week in industry news, Lindt is looking to acquire Russell Stover to increase its share in the U.S. market, Yum! Brands Inc.’s profit went up 18.9 percent from last year, and Crumbs Bake Shop revealed a Chapter 11 bankruptcy plan.
Read on for more of this week's biggest financial news in the world of food.
Yum! Brands Inc.: Profit for the company went up 18.9 percent from last year, to $334 million.
Così Inc.: Scott Carlock was hired as chief financial officer after serving 13 years in senior finance and accounting roles at Yum! Brands Inc.
CEC Entertainment Inc.: Thomas Leverton, who previously served as CEO of the Topgolf entertainment chain, will replace Michael H. Magusiak as CEO. Magusiak retired June 2 as president and CEO of CEC, the parent company to Chuck E. Cheese.
CKE Restaurant Holdings Inc.: Ned Lyerly was promoted to the newly created role of president of CKE’s international division, from executive vice president of international.
Russell Stover: Lindt is looking to acquire Russell Stover to increase its share in the U.S. market. Specifics of the deal have not been disclosed.
Unilever: The company sold a majority of its stake in Slim-Fast to Kainos Capital. Terms of the deal were not disclosed, but Unilever said it will maintain a minority stake in the brand.
More Financial News
Coca-Cola Co.: The company plans to invest more than $8.2 billion in Mexico during the years between 2014 and 2020, which, including earlier investments, brings the the company’s total spending in Mexico during the years 2010 to 2020 to more than $12.4 billion.
Crumbs Bake Shop: The cupcake chain revealed a Chapter 11 bankruptcy plan less than a week after closing down operations. The plan includes a prearranged sale to a group spearheaded by celebrity investor Marcus Lemonis.
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Haley Willard is The Daily Meal's assistant editor. Follow her on Twitter @haleywillrd.
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