Other suitors include Lindt & Sprüngli, which has seen its North American market share expand last year partially driven by Russell Stover’s sugar-free products. A spokesperson of the Swiss chocolatier has declined to comment on rumors about Lily’s Sweets, but said it is “constantly evaluating interesting possibilities”.
Lily’s Sweets was created by Cynthia Tice a decade ago to use stevia as a main sweetener to satisfy health-conscious consumers’ chocolate cravings, and is currently led by industry veteran Jane Miller. The business has expanded beyond its initial chocolate bars into baking chips, peanut butter cups, chocolate covered nuts, and popcorn over the years.
The Colorado-based chocolate maker, which remains silent on its potential sale, has reportedly posted a 55% revenue increase year-over-year, outperforming many classic brands in retailers, including Target