Bayn Group AB (“Bayn”, “the Company”) has in the autumn of 2020 started test sales of Tweek in Denmark, Finland, Norway, Germany and the UK, where the outcome from the initial period’s sales has been above expectations. The company has now secured several major listings in each country, where the products will be rolled out in several top-tier food and pharmacy chains during Q2 2021.
Tweek was launched in Sweden in 2018, where it reached a leading position in sugar-reduced confectionery after less than 18 months. In 2020, the company has had a growth of 72 % in the Swedish market and has 7 flavors represented in the top 20, of which 3 in the top 5. In Sweden, Tweek has a market share of about 35 % with distribution in 1500 stores in the fast-growing category, which has sales approximately SEK 110 million for 10 million inhabitants.
When it now launches in several major export markets such as Germany and England, which together are about 15 times larger, the Company sees good opportunities to quickly increase the volume if it succeeds in replicating the launch from the Swedish market. The initial test sales in each country have been very good and the Company considers that the CPIs that are measured during rollout, e.g. sales per store and number of repurchases, looks stronger than they did when they launched in Sweden – Something that can possibly be explained by the fact that the markets are more mature and receptive than 2018 and that the brand has further strengthened its portfolio, recipes and taste.
“It is very gratifying that we have received such a good response from the new markets where we rolled out Tweek. We have a very high demand for the products from distributors, buyers and consumers and now it is a matter of quickly prioritizing which channels and markets we believe are the most promising. Of course, we have learned a lot from the time we have been active in the Swedish market, but there are many new aspects to consider when optimizing the launch according to local culture and business structure. We feel excited for the future and we aim for to scale up sales properly in the spring.” – Lennart Arvidsson, CEO of Bayn Retail AB
Tweek is the leading sugar-reduced brand in Sweden and has a wide range of sugar-reduced packaged and bulk products in confectionery. During the autumn of 2020, the brand began launching in several export markets such as China, the UK, Germany and the other Nordic countries. 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, VD Bayn Group AB (publ)
The information in this press release has been published, through the agency of the contact person above, at the time stated by Bayn Group’s new distributor Cision at the publication of this press release.
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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