Biscuit manufacturer Lotus Bakeries is investing at least €500 million to expand production capacity of its popular Biscoff branded biscuits and spread. The company from East Flanders will invest this sum by 2030 across three sites in Belgium, the US and Thailand.
Home News
Lotus Bakeries invests €500m to expand Biscoff production worldwide
Published:
Demand for Biscoff speculoos biscuits and spread continues to rise. In the first six months of this year, turnover rose to nearly €750m, 14 per cent more than a year earlier. Operating profit rose by 23% to €130m, with net profit at just over €98m. Turnover and volume rose by more than 20%.
According to the company, this growth was evident in virtually all countries and continents, with the largest increase in Europe. In the US, Biscoff claims to be the fastest-growing biscuit brand in the sector. It is estimated that one in 10 American households buys its speculoos. CEO Jan Boone aims to make Biscoff the fourth-largest biscuit brand in the world.
The ground-breaking ceremony for an additional production hall in Lembeke took place in May. Planning permission has been granted and work has begun. A new production hall for speculoos biscuits and spread is also to be built in the US city of Mebane, with the extra capacity due to be available by 2029.
In Chonburi, Thailand – where Lotus has just opened a new factory – the company is already starting to expand. Groundwork for a second production hall has begun and the first new production line there is expected to be operational next year.
Lotus Bakeries is also in talks with its partner Mondelez to draw up a business plan for Brazil. The company intends to follow the successful example set in India. Latin America is currently still only a niche market for Biscoff.