RNS Number : 8124Q
Edita Food Industries S.A.E.
01 November 2021
 

Edita Food Industries Announces Rebranding of Twinkies SKU Portfolio, Introduction Of Higher Price Point Of EGP 3.00

Rebranding campaign comes as part of portfolio optimisation strategy and is complemented by adding new upsized Twinkies SKUs to the portfolio,  driving migration of customers to higher price points

Cairo, 31 October 2021

Edita Food Industries S.A.E. (EFID.CA on the Egyptian Exchange and EFID.LA on the London Stock Exchange), a leader in the Egyptian packaged snack food market, announced today the rebranding of its Twinkies line of filled cakes. The rebranding of Edita's Twinkies line is part of the Company's efforts to enhance its packaging and to consistently stimulate demand across its existing segments. Coming after Edita's highly successful rebranding of its flagship HOHOs brand name, the initiative leverages Edita's research and development capabilities to update the line's branding in a manner that conforms to consumer tastes and communicates a modern and approachable theme.

Capitalizing on its leadership in the filled cakes segment, Edita is also launching upsized Twinkies SKUs priced at a higher price point  of EGP 3.00 per pack. The new price point will be introduced across the Twinkies Cream, Twinkies Flavors (strawberry and chocolate) and Twinkies Icing (chocolate and vanilla) product families. Slated for launch by early November, the new SKUs follow on the successful rollout of Edita's upsized Twinkies Cream SKU, priced at EGP 2.00 per pack, in 2020 and are in line with the Company's portfolio optimisation and repricing strategies.

Edita's cakes segment, which continues to be the largest contributor to consolidated revenues at 41.5% as of 1H2021, spans four distinct brands: Twinkies, HOHOs, Tiger Tail, and TODO, all of which have grown to become household names with strong brand equity.

 

-Ends-

 

About Edita Food Industries S.A.E.

Edita, founded in 1996 and headquartered in Egypt, is a leader in the growing Egyptian packaged snack food market. The Company manufactures, markets and distributes a range of branded baked snack products including packaged cakes, bakery, rusks (baked wheat), wafers and biscuits as well as selected confectionary/candy products. The Company's local brand portfolio includes household names such as Todo, Molto, Bake Rolz, Bake Stix, Freska, Oniro and MiMix. The Company also has the exclusive ownership of the international HTT brands Twinkies, Hoho's and Tiger Tail in Egypt, Libya, Jordan, Palestine, Morocco, Algeria, Tunisia, Syria, Lebanon, Iraq, Bahrain, Oman, the UAE, Kuwait, Qatar and Saudi Arabia; and is party to a technical assistance and know-how agreement to manufacture 11 additional HTT brands across its territories. The Company holds strong number-one market positions in its core cake and bakery segments as well as in candy, a number-two market position in rusks and a growing market position in the wafers segment. In 2Q2021, the Company derived 95.0% of its revenue from Egypt and 5.0% from regional export markets. Learn more at ir.edita.com.eg.

Contacts             

Ms. Menna Shams El Din

Investor Relations & Business Development Director

T: +202 3851-6464 | M: +2010 0 154 2428 | menna.shamseldin@edita.com.eg

                        

Forward-Looking Statements

This communication contains certain forward-looking statements. A forward-looking statement is any statement that does not relate to historical facts and events, and can be identified by the use of such words and phrases as "according to estimates", "aims", "anticipates", "assumes", "believes", "could", "estimates", "expects", "forecasts", "intends", "is of the opinion", "may", "plans", "potential", "predicts", "projects", "should", "to the knowledge of", "will", "would" or, in each case their negatives or other similar expressions, which are intended to identify a statement as forward-looking. This applies, in particular, to statements containing information on future financial results, plans, or expectations regarding business and management, future growth or profitability and general economic and regulatory conditions and other matters affecting the Company.

Forward-looking statements reflect the current views of the Company's management ("Management") on future events, which are based on the assumptions of the Management and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. The occurrence or non-occurrence of an assumption could cause the Company's actual financial condition and results of operations to differ materially from, or fail to meet expectations expressed or implied by, such forward-looking statements.

The Company's business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to differ materially from those expressed or implied by the forward-looking statements contained in this prospectus. The information, opinions and forward-looking statements contained in this communication speak only as at its date and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this communication.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDBXBDGUDXDGBB