Lotus Bakeries

What Lotus Bakeries does

Lotus Bakeries is a Belgian family-controlled multinational snack food company headquartered in Lembeke, Belgium, founded in 1932 by Jan Boone Sr. around a proprietary caramelized cookie recipe and listed on Euronext Brussels (LOTB) since 1988. The company operates 13 production plants across Belgium, France, the Netherlands, the United States, South Africa and Thailand, employs approximately 2,984 people (2023), and sells in roughly 70 countries. It was admitted to the Euronext BEL-20 Index in March 2024 and is controlled by the founding Boone and Stevens families, with Jan Boone serving as CEO since 2011.

The portfolio spans two pillars. The indulgent centrepiece is Lotus Biscoff — a caramelized cookie brand that contributed €670m (≈57% of branded revenue) in 2025 and has become one of the world's five best-selling biscuit brands, distributed through retail, airline catering (Delta, American Airlines), and licensed local manufacturing (Mondelez in India). The natural foods pillar includes nākd fruit-and-nut bars, TREK protein flapjacks, BEAR fruit snacks and Kiddylicious baby/toddler snacks; "Local Heroes" brands — Peijnenburg (Dutch gingerbread), Annas (Swedish ginger thins), Snelle Jelle, Suzy waffles, Frangipane, Dinosaurus and Peter's Yard (UK sourdough) — anchor regional European preferences. Biscoff is being extended into adjacent categories through co-branded chocolate innovations with Cadbury and Côte d'Or (Mondelez partnership) and Biscoff ice cream with Froneri.

The business model is predominantly consumer packaged goods: branded retail sales across grocery, own sales offices in China/South Korea/Italy/Switzerland, food-service and B2B distribution channels (airlines, cafés, sporting events via Golazo partnership), plus licensing royalties from the Mondelez India arrangement. FY2025 revenue reached €1.36bn (up 10%), with net profit of €173–177m and a 25th consecutive annual dividend increase. The Natural Foods segment has compounded at a 17% CAGR over nine years to roughly €250m. A €250m+ capital expenditure programme across 2026–2027 (Lembeke expansion, Thailand factory, US capacity) is being deployed against supply shortages created by viral Biscoff demand and to support India, chocolate and ice cream category extensions.

Name

Lotus Bakeries

Legal name

Lotus Bakeries

Website

https://lotusbakeries.com

Company type

Public

Founded year

1932

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Lotus Bakeries is a Belgian family-controlled multinational snack food company operating 13 production plants and selling in ~70 countries, with FY2025 revenue of €1.36bn generated primarily from Biscoff cookies plus natural and regional snack brands (nākd, TREK, BEAR, Kiddylicious, Peijnenburg, Annas, Peter's Yard).

Ownership category

akta.pro rank

Product category

Biscuit and Confectionery Manufacturing

NAICS

Cookie and Cracker Manufacturing (311821), Sugar and Confectionery Product Manufacturing (3113)

SIC

Cookies & Crackers (2052), Bakery Products (2050)

akta.pro primary industry

Cookies, Biscuits & Crackers Manufacturing (AFAKAAAC)

akta.pro secondary industries

Fruit Snacks & Dried Fruit (CRADABAJ), Baby Snacks (Puffs, Biscuits, Teething Snacks) (CRADAEAF)

Keywords

• Caramelized cookies
• Biscuit manufacturing
• Natural snack bars
• Gingerbread products
• Confectionery brands

Headquarters

HQ city

Kaprijke

HQ country

Belgium

HQ region

Europe

Offices9 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Biscoff Product Sales: Primary revenue driver accounting for 57% of branded revenue. Biscoff sales reached €670m in 2025, up 13% organically. Includes cookies, spreads, sandwich cookies, and co-branded chocolate products.
2. Natural Foods Segment: Approximately €250 million in sales with 17% CAGR over nine years. Includes nākd. bars, TREK protein flapjacks, BEAR fruit snacks, and Kiddylicious baby/toddler snacks.
3. Licensing Royalties: Royalty payments from Mondelez International for India Biscoff manufacturing, marketing, and distribution. Mondelez targets US$100 million in revenues within five years from Biscoff India sales.
4. Local Heroes Brands: Regional brands including Lotus biscuits, Suzy waffles, Frangipane, Madeleine, Zebra, Peijnenburg gingerbread, Annas pepparkakor, Dinosaurus, Snelle Jelle kruidkoek, and Peter's Yard sourdough crackers.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Lotus Bakeries manufactures and distributes branded indulgent and natural snack products globally, including Lotus Biscoff caramelized cookies, spreads and sandwich cookies, nākd. fruit and nut bars, TREK protein flapjacks, BEAR fruit snacks, Kiddylicious baby and toddler snacks, and acquired regional brands such as Peijnenburg gingerbread, Annas pepparkakor, Snelle Jelle kruidkoek, Dinosaurus biscuits, and Peter's Yard sourdough crackers. The company sells these products in approximately 70 countries through retail, own sales offices, licensing partners, and food service channels.

Product overview

Lotus Bakeries is a Belgian multinational snack food company offering a diversified portfolio of branded snacks across indulgent and better-for-you segments. The portfolio includes flagship Lotus Biscoff (caramelized cookies, spreads, and sandwich cookies representing 57% of branded revenue), Lotus branded biscuits/cakes/waffles, Natural Foods brands (nākd. fruit bars, TREK protein bars, BEAR fruit snacks), acquired regional brands (Peijnenburg gingerbread, Snelle Jelle kruidkoek, Annas ginger thins, Peter's Yard sourdough crackers), Kiddylicious baby snacks, and Dinosaurus children's biscuits. The company operates in over 70 countries with 13 production plants across Belgium, France, Netherlands, South Africa, US, and Thailand.

Differentiator

Problem solved

Functional benefit

Brands

• Biscoff: The flagship brand featuring caramelised biscuits, spreads, and sandwich cookies. The original crunchy cookie launched in 1956 as the biscuit served with coffee, now sold globally and accounting for over half of group revenue.
• nākd
• TREK
• BEAR
• Kiddylicious
• Lotus
• Dinosaurus
• Peijnenburg
• Snelle Jelle
• Annas
• Peter's Yard

Products and services

• Lotus Biscoff Flagship caramelized cookie brand sold globally as original cookies, Biscoff spread, and sandwich cookies in multiple flavors, representing 57% of branded revenue.
• nākd. Natural fruit and nut bars made from 100% natural ingredients with no added sugar, targeting health-conscious consumers seeking better-for-you snacking options.
• TREK Protein flapjacks and oat bars providing convenient nutrition for active consumers, including TREK Protein Flapjack with Biscoff flavor introduced in 2025.
• BEAR
• Kiddylicious British baby and toddler snacking brand offering nutritious, portion-controlled snacks and meals for growing babies, toddlers and pre-schoolers.
• Lotus
• Dinosaurus
• Peijnenburg
• Snelle Jelle
• Annas
• Peter's Yard
• Biscoff Sandwich Cookie Espresso (Limited Edition) Limited edition collaboration product pairing Biscoff sandwich cookie format with espresso flavor, co-developed with the Tomorrowland music festival.
• TREK Protein Flapjack with Biscoff Hybrid product combining TREK protein flapjacks with Biscoff flavor, launched in 2025.
• Biscoff Ice Cream (with Froneri) Biscoff-branded ice cream product range developed in cooperation with Froneri and Mondelez International.
• Biscoff India (local manufacturing launch) Locally manufactured Biscoff cookie range for the Indian market at accessible price points, launched through the Mondelez International licensing partnership.

Quantifiable outcome

• Revenue growth of 10% to €1.35bn in 2025
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core, flagship and minor.

• GolazocoreGTM or Marketing Partner · 25 June 2025Multiyear partnership connecting TREK and nākd brands with active communities at more than 40 sporting events in 3 countries, driving brand visibility among health-conscious consumers.
• FroneriflagshipStrategic or Co-development Partner · 12 March 2025Lotus Bakeries and Mondelez International expanded partnership into ice cream category in cooperation with Froneri, featuring new Biscoff ice cream product range.
• Mondelez InternationalcoreStrategic or Co-development Partner · 13 June 2024Strategic partnership for India expansion and co-branded chocolate products in Europe. Mondelez manufactures, markets, and distributes Biscoff in India under licensing agreement. Also includes co-branded chocolate innovations like Cadbury Dairy Milk x Lotus Biscoff and Côte d'Or x Lotus Biscoff. Mondelez targets US$100 million revenue in India within five years.
• FF2032 Portfolio CompaniesminorOthersCorporate venture fund investments including IQBAR (better-for-you bars with brain benefits), The Good Crisp Company (natural gluten-free chips), Oot Granola (Dutch direct-to-consumer brand), Partake Foods (US allergy-friendly cookies), and Love Brands Inc. (LOVE Corn snack).

Scale indicators10 records

Recent moves12 records

Expansion highlights5 records

Broad incumbents

• Mondelez International: Global snacking giant (Oreo, Cadbury, Chips Ahoy, Toblerone). Directly comparable to Lotus as a large cookies-and-confectionery incumbent, while also being a strategic partner for India and co-branded chocolate — making it both competitor and channel.
• General Mills: Owner of Nature Valley, Annie's, Fiber One and Pillsbury. Comparable as a global packaged food incumbent with both indulgent and better-for-you snack bar exposure, overlapping with Lotus's nākd/TREK/BEAR portfolio.
• Associated British Foods (ABF): Diversified food conglomerate including Kingsmill, Ryvita and Twinings. Comparable as a multi-brand, multi-geography food group with biscuits/crackers in the portfolio, even though Lotus is far more focused on indulgent snacking.
• Pepperidge Farm (Campbell Soup): Premium cookie and cracker brand (Milano, Goldfish) within Campbell Soup's snacks portfolio. Comparable as a premium-positioned cookie brand competing in similar U.S. retail and foodservice channels as Biscoff.

Direct peers

• Walkers Shortbread: Family-owned Scottish shortbread and biscuit maker with global premium distribution. Comparable to Lotus as a heritage, family-influenced biscuit specialist competing in premium cookie occasions internationally.
• Pladis (McVitie's): Owner of McVitie's, Carr's and Jacob's biscuit brands across UK and international markets. A direct cookie/biscuit peer with comparable branded portfolio and historic premium positioning.
• KIND Snacks (Mars): Better-for-you snack bar brand acquired by Mars. Direct comparable to Lotus's nākd and TREK brands in the natural/protein snack bar category, with similar target consumers and premium positioning.
• Ferrero Group: Italian family-controlled multinational behind Nutella, Ferrero Rocher, Tic Tac and Kinder. Closely comparable to Lotus in terms of privately-led, family-influenced confectionery and biscuit operations with global brand-building playbooks and premium positioning.
• Bahlsen: German premium biscuit and wafer specialist (Pick-up, Leibniz, Choco Leibniz). A direct specialist peer in branded cookies/confectionery competing for similar premium cookie occasions globally.

Others

• Barry Callebaut: World's largest chocolate and cocoa manufacturer supplying B2B customers including Mondelez and Lotus's co-branded chocolate partners. Relevant as an adjacent incumbent in the chocolate supply chain that Lotus taps into via Mondelez/Froneri partnerships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks4 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/lotus-bakeries

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A10 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lotus Bakeries