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Key takeaways
- Lotus Bakeries is investing 500 million euros by 2030 to expand Biscoff production.
- Turnover rose by 14 percent, as Biscoff became the fastest-growing biscuit brand in America.
- Strategic hubs in Thailand, the United States and Belgium will drive global market dominance.
Lotus Bakeries is embarking on its most ambitious expansion project to date, allocating at least 500 million euros by 2030 to ramp up production of Biscoff biscuits and spreads. This massive capital injection will be divided across three global hubs: Chonburi in Thailand, Mebane in the United States, and the company’s home base in Lembeke, Belgium.
Strong financial performance
The financial reports for the first half of the year show the company’s strong upward trend. Turnover rose by 14 percent compared with last year to nearly 750 million euros, while operating profit increased by 23 percent to 130 million euros. Net profit remained stable at just over 98 million euros.
Global rise of the brand
The popularity of the Biscoff brand has risen sharply worldwide, with both sales volume and revenue growing by more than 20 percent. Although this growth is visible on virtually every continent, the biggest gains were recorded in Europe. In the US market, Biscoff has become the fastest-growing brand in the sector. Around 10 percent of households now buy the product.
Strategic infrastructure improvements
Driven by the aim of establishing Biscoff as the world’s third-largest biscuit brand, CEO Jan Boone is overseeing strategic infrastructure improvements.
In Belgium, construction of a new production facility began in May. In the US, a facility capable of producing both spreads and biscuits is expected to be operational in 2029. Meanwhile, construction has already started on a second production hall in Thailand, with the first new production line scheduled to be commissioned in 2027.
Expansion into new markets
With an eye on future markets, the company is working with Mondelez on a strategy for Brazil. This move is intended to replicate the success achieved in India and expand the brand’s presence in Latin America, a region that is currently considered a small market for the company.
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