Thailand’s Lotus’s to invest more than US$350 million in expansion plan
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Manufacturer of the legendary speculoos (Biscoff) caramelised sugar biscuit Lotus Bakeries is set to build a new factory in Thailand. The first biscuits are expected to roll off the factory conveyor belt in 2026.
Speculoos biscuits are already extremely popular in Asia, with company Lotus owning sales offices in China and South Korea, as well as teams in Hong Kong. To bolster growth in the region, Lotus will open a new factory in Thailand to satisfy the needs of the Asian market.
The Belgian company has been expanding steadily in recent years. Just three years ago, Lotus Bakeries opened a factory in Mebane, in North Carolina, the United States. In South Africa, the group owns a factory for African treat Bear, a type of liquorice candy.
According to a press release from the company, the Thai factory will be based in the eastern province of Chonburi, not far from the capital Bangkok.
The factory will sit on the so-called “Eastern Economic Corridor” which is currently receiving massive economic investment. Goods flowing along this corridor, which connects China, Korea, and Malaysia, experience next to no import duties, according to Lotus CEO Jan Boone.
Questions & Answers
Q.What is the primary reason Lotus Bakeries is building a new factory in Thailand?
What is the primary reason Lotus Bakeries is building a new factory in Thailand?
Lotus Bakeries is opening a new factory in Thailand to satisfy the needs of the Asian market. Speculoos biscuits are already very popular in Asia, and the company aims to bolster regional growth.
Q.Where will the new factory in Thailand be located?
Where will the new factory in Thailand be located?
The new Thai factory will be situated in the eastern province of Chonburi, which is near the capital Bangkok. It will be on the "Eastern Economic Corridor" receiving significant investment.
Q.When is the new factory expected to begin production?
When is the new factory expected to begin production?
The first biscuits are expected to roll off the factory conveyor belt in 2026. This timeline indicates when the facility will become operational for manufacturing purposes.
Q.How will the factory's location on the Eastern Economic Corridor benefit Lotus Bakeries?
How will the factory's location on the Eastern Economic Corridor benefit Lotus Bakeries?
Being on the Eastern Economic Corridor means goods flowing along this route, connecting China, Korea, and Malaysia, experience almost no import duties. This should aid distribution across the region.