Lotus Bakeries acquired the brand from UK firm Urban Fresh Foods in 2015 for around £70m ($98.4m) in a move to become an international ‘captain category’ in healthy snacks.
According to Lotus CEO Jan Boone, the move is part of the company’s strategy towards further internalization – bringing control inhouse to streamline manufacturing efficiencies and production capacity, along with further opportunities for product development – while expanding the brand’s footprint in the UK and elsewhere.
Listing with Starbucks
“We want to maintain our position as frontrunners in the natural snacking category in the UK and use this potion to pave the way for international growth,” said Boone, noting the company has secured a listing for Bear production with Starbucks in the US.
The production facility is based in Ceres Valley in the Western Cape province, a prime fruit growing area in South Africa.
Under the agreement, Lotus will receive a brand-new production facility, fully equipped and staffed, to be fully operational by 2019.
The transaction – for an undisclosed sum – will be finalized once all the conditions are met, and following approval by the regulatory authorities.
The Bear range comprises Bear Yoyos (fruit rolls), Bear Paws (fruit snacks for toddlers) and Bear Claws (fruit and vegetable snacks), all made from natural ingredients without added sugars, concentrates, preservatives and stabilizers.
Headquartered in Belgium and listed on Euronext Brussels, Lotus Bakeries has production facilities in the Netherlands, France and Sweden, as well as a sales footprint in Europe, America and Asia.
The group is active in the indulgent and natural snacking segment with an extensive portfolio comprising the Lotus, Lotus Biscoff, Lotus Dinosaurus, Lotus Suzy, Peijnenburg, Snelle Jelle, Annas, Nakd, Trek Bear and Urban Fruit brands.
The €524m ($645m) company employs approximately 1,500 staff worldwide.