Higher sales than expected and first listing of candies at ICA
Pändy Foods AB launched the first two flavours with its new recipe for sugar-reduced jelly candy at the end of last year. During the initial sales period, the products were well received, with higher sales than expected and quick listings in the service trade. From this week, the products will also be listed and available centrally at ICA, one of the leading Nordic retailers.
The jelly candy was launched in two flavours at the Fitness Festival at the end of last year and received a strong response from the market. Since then, sales have been higher than expected with broad listings and high sales per store, where until now all that could be produced has been sold out. The company has secured an increased production capacity to accommodate growing sales going forward. The candy is available today in some of the company's export markets with further launches to come within short. In Sweden it is listed and sold at, among others, Preem, OKQ8, Circle K, ICA, Hemköp (franchise), e-commerce dealers and wholesalers. The launches have also meant an increased frequency of incoming inquiries from international distributors and retailers who are interested in local imports of the jelly candy and chips.
“It is super exciting that we have found the right product with good traction and at the same time providing visibility and indirect marketing for Bayn's EUREBA®. Healthier sweets are our cornerstone and are the first products that we launched to market in 2016, where we have since then worked to develop the new recipe that is now available on the market. We see great potential in being able to achieve significant growth and take a leading position in Europe and Asia in sweets that replace sugar with natural fibres, instead of maltitol. For example, there is an American brand, Smartsweets, which sells fibre-based sweets in the US and Canada and that in a short time have reached sales of more than SEK 500 M with only jelly confectionery. My view is that our products have both better taste and texture than their products and we should of course also aim to take the sweets across the Atlantic as well. Our first delivery to Canada leaves in less than four weeks. " - Simon Petrén, CEO of Pändy Foods AB
Sweet Hearts and Sour Fish are two of Pandy's sweets. Each bag contains only 80 kcal and 1 g of sugar, which means about 97% less sugar than regular jelly candy. The company aims to launch additional candy flavours during 2020. A total of 14 products are in the portfolio today and are sold and marketed to over 20 markets.
For further information, please contact:
Simon Petrén, IR-Manager Bayn Europe AB (publ)
Tel: +46709999455
Email: simon.petren@bayneurope.com
From plant based sources Bayn develops and offers the market cost-effective raw materials as well as total solutions in sugar reduction Through scientific research products and ingredients with a low calorie content are developed for customers in the food and beverage industry. For more information www.bayneurope.com
Pändy is a fast moving FMCG company specialised in consumer products with a low calorie and high protein content. The products, beverages, confectionery, snacks, and energy bars are available in grocery stores.
Together Bayn and Pändy will build a corporate group which will invest in and develop companies within Food-Tech.
Bayn is listed on Nasdaq Stockholm, First North Growth Market, under the short name BAYN.FNCA Sweden AB is Bayn’s certified adviser. Tel: +46-8-528 00 399 E-mail: info@fnca.se.