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Lotus Bakeries
Company typePublic
Euronext: LOTB
IndustryFood
Founded1932, called "Banket- en Peperkoekbakkerij Lotus"
FounderJan, Emiel and Henri Boone
HeadquartersLembeke, Kaprijke, Belgium.
Key people
Jan Boone (CEO)
Websitewww.lotusbakeries.com

Lotus Bakeries NV is a Belgian multinational snack food company founded in 1932. Based in Lembeke, Kaprijke, the company's best known[citation needed] product is Speculoos (known as Biscoff in the United States, the United Kingdom, Japan and Australia). Other Lotus brands include nākd, TREK, BEAR, Kiddylicious, Peter’s Yard, Dinosaurus, Peijnenburg and Annas.

Lotus Bakeries have production facilities in Belgium, the Netherlands, France, Sweden, South Africa and the United States. A third production facility for Biscoff is currently under construction in Thailand and will be operational by 2026.

Lotus Bakeries are active in about 70 countries in Europe, America, Asia and Australia. The company has around 3,000 employees and achieved a revenue of EUR 1,063.0 million in 2023.

Since 1988 the shares of Lotus Bakeries are listed on Euronext Brussels. Most are owned by the Boone and Stevens families. Jan Boone [nl], grandson of founder Jan Boone Sr., has been the CEO since 2011.[1]

History

The company was founded in Lembeke in 1932 by the brothers Jan, Emiel and Henri Boone. Jan named it Lotus, after the flower that symbolises purity.

In the 1950s, the brothers began to package the Lotus Speculoos biscuits individually, and from 1956 they were offered in Belgian catering establishments alongside coffee. Soon after, in 1960, Lotus Speculoos was distributed in neighbouring countries.

Partnering with the Stevens family in 1974, Lotus merged with Corona and now also includes cakes and pastry within its product range. Prepackaged pastries experienced rapid growth at that time.

The Speculoos biscuit is branded Lotus Biscoff, a brand name launched since 1986 and gradually introduced in all countries. In the mid-1980s, several airlines began serving Lotus Biscoff as an in-flight treat.[2]

From the 1990s, Lotus Bakeries grew steadily with a series of integrations:

Since 2015, the company also became active in the natural snacking category with the acquisition of three British companies.[3]

Over the past years, Lotus Bakeries has invested in several production facilities on different continents:

Organisation

Karel Boone, the son of founder Jan Boone Sr., became a director in 1966 and was the CEO of Lotus Bakeries for 32 years from 1974-2006. He was also from 1966-2012 the president of the company for 46 years.

In 2006, his brother Matthieu took over as CEO.[5] At the end of 2011, a new generation took over with Jan Boone becoming the CEO.[6]

Executive Committee

The Executive Committee determines the strategy and objectives of the Lotus Bakeries Group and submits them to the Board of Directors for approval.[7]

References

  1. ^ "Lotus Bakeries". Lotus Bakeries Corporate.
  2. ^ "How Biscoff Cookies Became the Snack We Crave on Planes". Condé Nast Traveler. 23 March 2020.
  3. ^ Lotus koopt Britse koekjesfabrikant - De Standaard - 14 August 2015
  4. ^ "Acquisition of majority of the remaining shares in NBF". De Tijd.
  5. ^ "Matthieu Boone volgt broer Karel op bij Lotus". Het Nieuwsblad.
  6. ^ "Jan Boone in 2011 nieuwe CEO Lotus". De Tijd.
  7. ^ "Executive Committee". Lotus Bakeries Corporate.
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