According to the press release, the third Biscoff® plant – in addition to the investments in Belgium and North America – will provide Lotus Bakeries with additional capacity, help it to bring fresher biscuits to consumers, enable it to respond faster to local opportunities and save on transport costs. The construction project will start in the next few months after the formal closing of the purchase of industrial land in Chonburi province. This province is part of the so-called Eastern Economic Corridor that is being developed by the Thai government as a key economic zone for the region.
The first line will be operational in 2026. “Recent experience with the construction and start-up of the second Biscoff plant in the US provides the group with a project framework and strongly reduces the project risk,” writes the company. The ambition of Lotus Bakeries is to grow Lotus Biscoff® to become the third largest cookie brand in the world.
Over the last ten years, revenue for Lotus Biscoff has grown by an average of 13%. According to the company, Lotus Biscoff® Cookies were the strongest riser in the top ten of the global Cookie Brand ranking in 2021, rising to 7th place. The group realises turnover of € 750.3 m and more than 13% growth in the fiscal year 2021. The units Lotus Biscoff® and Lotus Natural Foods™ both grow strongly, by 15% and 20% respectively.
The concern continues to invest heavily in the growth of both category and brands. Lotus Bakeries is now present in more than 70 countries worldwide, with sales of more than € 1m in 28 of those countries. The past year saw double digit growth in the large consumer markets of the United States, the United Kingdom, China, Korea, Germany, Spain, Italy, Canada and Australia, among other areas.