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.
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