Raisio Licenses Honey Monster Brand in UK to Brecks Co

635961386336848635cheerios.jpg

13 Apr 2016 --- Raisio is to license its Honey Monster breakfast cereal brand in the UK to the UK-based cereal supplier Brecks Co. Raisio chief executive Matti Rihko, said: “Ready-to-eat breakfast cereals are not at the core of Raisio’s strategy so the licensing of the Honey Monster brand is a good solution that ensures that Honey Monster cereals will continue to be available to British consumers.”

The license agreement, which will begin on July 1, will see Brecks Co market and sell Honey Monster products in the UK.

Raisio said the agreement will not have a significant impact on its earnings.

Brecks Co, based in Yorkshire, is a supplier of meat free products, extruded cereals and cereal bars, operating from two manufacturing sites. 

Honey Monsters, previously known as Sugar Puffs, came to market in 1957. The cereal brand became known for its Honey Monster mascot, a large, hairy monster first introduced in 1976 and used in its advertising.

Honey Monster has cut its sugar levels in recent time to account for changing consumer tastes.

In January this year, it cut 25 percent of sugar from the product, a further cut from a previous reduction of over five percent.

Last year, Raisio shut a factory in London which made breakfast cereals,

Earlier this year, the Finnish food group set up a new unit to house Benecol and its snacks brands, which the company said will lead to “improved production and NPD”.

In its latest set of results, Raisio reported a 60 percent increase in full year profits to $70 million, helped by acquiring the rights of Benecol in key European markets.

 

Related Articles

Regulatory News

EU Parliament rejects calls for phosphate ban

14 Dec 2017 --- A proposal to ban the additive phosphate, a key component in kebabs and gyros, has been narrowly defeated in European Parliament following a vote yesterday (December 13).The legislature fell three votes short of reaching an absolute majority of at least 376 votes for a phosphate ban, which would have seriously impacted the kebab industry, forcing it to find alternatives rather than stop producing the highly popular fast food.

Food Research

Vegans call for more grab-and-go food options, according to survey

14 Dec 2017 --- Vegans want to see more grab-and-go options in retailers and foodservice outlets, according to a new survey by The Vegan Society. The results showed that vegans (91 percent) often struggle to conveniently pick up these types of food options which has led to the launch of the Society’s new campaign, Vegan on the Go. 

Food Ingredients News

Target buys online grocery platform Shipt in US$550m deal

14 Dec 2017 --- Traditional brick and mortar retailer Target is to acquire the platform Shipt, Inc. in a US$550 million deal which will see same-day delivery services offered at approximately half its stores by early 2018.

Food Ingredients News

Diana Food launches solutions that deliver new vegetable eating experiences

14 Dec 2017 --- Consumers strive for a healthy lifestyle and eating habits but they are not ready to make any compromise on taste. Today, there is a major shift in eating experience towards authenticity, freshness from “real food,” which also applies to consumers’ packaged goods. Attentive to those needs, Diana Foods has leveraged their historical knowledge and experience and pushed the boundaries of innovation to offer the market a groundbreaking taste solution.

Business News

Aviko plans to join online grocery marketplace, INS ecosystem

13 Dec 2017 --- Subsidiary of Royal Cosun, potato processor Aviko has signaled its intention to join the direct-to-consumer movement by signing up to the INS platform, the online marketplace where producers can offer their products directly to consumers.

More Articles