Historically, Tweek has exclusively sold its products on the Swedish market, where the brand has in a short time reached a market-leading position in sugar-reduced confectionery. During the middle of the summer 2020, the internationalization of the products began and where Tweek had a test sales period with several of larger chains for each export market. The test sales are part of the Company’s strategic establishment process and form the basis for data-driven establishing the products in future listings and a broader rollout.
The company can now, after a positive first listing announcement, announce that Finland will be the first market where the products are launched on a broad front by launching 5 of the best-selling bags in the Kesko stores. Sales in the Swedish market have also continued to grow at a fast pace and both ICA and Coop have also chosen to expand the range, where all Tweek packed bags will now be available in the range beginning next year.
With a market share of ca 34 %, Kesko is the second largest food chain in Finland after S-Group (ca 39 %). In total, the Kesko chain has approximately 1,800 stores, of which approximately 1,250 are in the Finnish market and which are relevant for the initial launch of Tweek’s products.
“It feels fantastic that we have received such a strong approval in the Finnish market. As we have previously communicated, the KPI: s for test sales in the export markets look very promising and this is yet another proof that the chains are also satisfied with the sales and the outcome. We have now got a good start for a broader launch in Finland next year and see the potential to reach a market-leading position in 2021. Additionally, the work on the listings for the other export markets such as Norway, Denmark, Germany and England are also in full force and we are expecting responses from several large chains with potentially similar listings before the next trade window. I would also like to highlight that we have really got off to a good start as part of the Bayn Group, where we have already integrated the combined team of talented employees from Pändy and Tweek into the new Bayn Retail. In a short time, we have created an efficient setup where we complement each other well with exports, distribution, online B2B and sales to the grocery trade. We have an exciting 2021 ahead of us!” – Lennart Arvidsson, CEO Tweek AB (u.n.c Bayn Retail AB)
Tweek has a sugar-reduced candy assortment of 10 varieties of packed sweets and a larger number of varieties with pick and mix sweets. The brand is the market leader in its category in Sweden and has begun the international expansion during the third quarter of this year. The company was acquired earlier this year by Bayn Group and is part of the group under the name Bayn Retail.
For further information, please contact:
Simon Petrén, IR and M&A Bayn Group AB (publ)
Bayn Group is a Swedish foodtech group, supplying cutting edge and healthy sugar reduction solutions for the food and beverage industry. Bayn’s ingredient solutions, refined through scientific research and extensive market experience, facilitate new formulations and recipes that improve the taste and texture of the next generation of sugar- and calorie reduced products. For more information www.bayngroup.com
Bayn is listed on Nasdaq Stockholm, First North Growth Market, under the ticker BAYN
FNCA Sweden AB is Bayn’s certified adviser. Tel: 08-528 00 399 E-mail: email@example.com
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