Edita Food Industries enters the biscuits market with the launch of its new brand “Oniro”
The expansion into the new biscuits market is in line with the company’s diversification strategy to create new revenue streams and drive future growth
Edita Food Industries S.A.E. (EFID.CA on the Egyptian Exchange and EFID.L on the London Stock Exchange),
a leader in the Egyptian packaged snack food market, announced today the launch of its new brand, Oniro, marking the company’s entrance into Egypt’s biscuits market.
Oniro is Edita’s 10th brand and builds on the company’s track record of penetrating new market segments and developing household brands that satisfy consumers’ needs. Oniro will allow Edita to capitalize on Egypt’s fast-growing biscuits market with an estimated size of c. EGP 4.6 billion and a three-year CAGR of 16%.
The first product to hit the shelves under the Oniro flagship is the Oniro Cookie Crisp Filled, a vanilla chocolate chip cookie filled with chocolate cream and currently retailing at EGP 2 per cookie. The Oniro Cookie Crisp Filled is the first locally produced chocolate chip cookie in Egypt. Furthermore, two larger SKUs in plain vanilla and chocolate are set for launch in the coming weeks and will retail at EGP 3 per pack. The new Oniro Cookie Crisp range is produced at Edita’s E08 facility following the installation of the company’s new biscuits line with a total investment cost of EGP 55 million.
Commenting on the expansion, Edita Chairman and Managing Director Hani Berzi said: “Entering into new segments and creating new revenue streams for Edita is at the core of our growth strategy. The biscuits segment is among the largest segments in the snack food market and represents a remarkable opportunity for Edita to capitalize on its innovative abilities. Edita will continue to grow its biscuits portfolio in the coming months, and build on its tradition of satisfying consumers’ tastes with great value-for-money propositions.”