During the fall, the company launched the entire Tweek range on all other Nordic markets. Finland was the first to launch and has the highest sales and distribution in the most stores. The products have been well received in all markets and in a short time have shown high sales from about a hundred test stores. Given the positive response from the launch, management sees good opportunities for the Company to reach a leading position also in the other Nordic countries next year. This would mean significant sales growth for the Company and a stronger positioning to drive the category development of the chains' health and functional confectionery products.
Tweek's sugar-reduced candy products are the market leader in Sweden and are available at the majority of the major formats in the grocery trade such as Ica, Coop, Hemköp, City Gross, OKQ8 etc. In 2020, growth has continued to be high and with the establishment of more distribution points, where the Company has gradually increased its share as a leading player.
"It's great that we've had such a good response in the new countries. Our strategy from the beginning has been to reach a market-leading position for sugar-reduced candy in Sweden before international expansion - which we achieved. During the autumn, we have had a strong focus on launch and roll-out in our neighboring countries and we are very pleased with the results from the test sales. Given that the key figures exceed those we had for Sweden, we see good opportunities to reach a leading position in the other Nordic countries next year. In the first quarter, we will also continue the international expansion with launches in new countries and areas such as Germany, England, France, Benelux, Spain and the Middle East. The work with the Bayn team and the technology platform is going well and we already have several promising projects with EUREABA underway, both for the existing candy products and new categories in sugar-reduced foods. It is very exciting to be part of this growth journey and we see that consumers are more inclined to buy healthy foods than ever." - Lennart Arvidsson, CEO Bayn Retail (n.d. Tweek AB)
Tweek has a wide range of sugar-reduced packaged and bulk confectionery products and is the market leader in Sweden. 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, Deputy CEO Bayn Group AB (publ)
Tel: +46709999455
Email: simon.petren@bayneurope.com
Bayn Group is an independent supplier of cutting edge and healthy sugar reduction solutions for the food and beverage industry. Bayn's plant-based ingredient solutions, refined through scientific research and extensive market experience, facilitate new healthier formulations and recipes focused on taste and texture to help food and beverage companies around the world reduce sugar and calories in their products. For more information www.bayneurope.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: info@fnca.se.
