Freska Choco Sticks marks the Company’s latest addition to its market-leading coated wafer offering and one of Edita’s fastest-growing line of business
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 latest wafer product, Freska Choco Sticks. Sold under Edita’s Freska brand, Freska Choco Sticks is a rolled wafer with chocolate coating and chocolate hazelnut filling.
Freska Choco Sticks retail for EGP 3 per pack and are available in pouches containing two sticks each. The new launch comes as Edita works to expand its footprint in the fast-growing wafers segment while delivering on the company’s revenue diversification strategy and capturing greater market share. In 2021, Edita doubled its market share in the wafer segment to approximately 15%, becoming a market leader in the coated wafers subsegment. The launch of Freska Choco Sticks capitalizes on Edita’s successful launches of its Freska Sticks and Freska Block lines of coated wafers in 2020 and 2021, respectively.
Revenue from Edita’s wafers segment represented 10.2% of the Company’s consolidated top line in 3Q2021, up from 7.6% one year previously, making wafers the Company’s third largest segment by revenue. The segment grew at a rate of 77.0% year-on-year in 3Q2021 and at 87.8% year-on-year during 9M2021, making it Edita’s fastest-growing line of business.