Chocolate maker Russell Stover Candies may soon get gobbled up.
The family-owned company, the third-largest candy producer in the US, is on the auction block, according to people familiar with the matter. Goldman Sachs Group is in the early stages of shopping the company, which could sell for more than $1 billion, one of the people said.
Based in Kansas City, Mo., Russell Stover is best known for its boxed chocolates. It has a number of well-known brands including its namesake, as well as Whitman’s and Pangburn’s of Texas. According to its website, every 2.5 seconds, a Whitman’s Sampler box of chocolate is sold.
The company has about $600 million in annual sales and around $60 million in earnings before interest, tax, depreciation and amortization, a measure of cash flow, one of the people said. It has about 4,500 employees, according to its website.
This article originally appeared on Marketwatch.