Private labels are the growth area
Snack Food Poco Loco has invested 12 million euro in 2 new production lines so that it can meet the increased demand for Tex Mex snacks and products, like spices and sauces. “We have grown 10 % over the past few years and we expect a 25 % growth over the next three years”, CEO Peter Denolf said.
The bulk of its intended growth will come from its own private labels, according to the CEO. “The private labels, which are already a major part of our production, will become even more important.” He sees three reasons for the increased popularity of the products: growing consumer faith, sustained quality improvement and recent product innovation. He even thinks retailers’ private labels will represent about half of all food products sold by 2025.
Poco Loco, founded in 1994, has been a part of Finnish food giant Paulig Group since 2010. It has a 200 million euro yearly turnover, with 96 % of its production destined for abroad. It also has 400 employees, although it will add another 75 by the end of the year.
