Swiss chocolatier Lindt & Sprüngli has expanded its presence to South America with its first own subsidiary company, L&S (Brazil) Holding.
The company has entered into a joint venture (JV) with CRM Group, which operates retail outlets under the Kopenhagen brand.
Lindt & Sprüngli will have a majority interest of 51% in the JV, which positions it as an international premium chocolate label in Brazil.
The development is part of the company's strategy to tap new emerging markets.
The partnership with local distributor will continue to market Lindt products in the retail segment.
Lindt & Sprungli operates eight production facilities in Europe and US. It has a workforce of 9,000, and reported revenues of around CHF2.8bn in 2013.
