PETER’S YARD, THE NEWEST MEMBER OF THE LOTUSTM

Natural Foods Family

Promising Growth Company

The potential of Peter’s Yard is beyond question; a unique product proposition in a large category, the revenue growth of recent years, supplemented by the expertise Lotus Bakeries adds in terms of distribution, marketing and production.

Twan Thorn

MANAGING DIRECTOR KIDDYLICIOUS

Jean-Baptiste Robert

MANAGING DIRECTOR PETER’S YARD

Peter’s Yard, a brand of tasty sourdough crackers based exclusively on natural ingredients, has been part of Lotus Bakeries since July 2022. Meet our newest addition to the LotusTM Natural Foods portfolio.

Swedish tradition meets British craftsmanship, 100% natural quality ingredients and time. These are the secret elements that make Peter’s Yard’s artisanal sourdough crackers so unique.

“All products in the Peter’s Yard range are prepared according to the traditional Swedish recipe using a 45-year-old sourdough starter, which is slowly fermented for 16 hours. That is exactly what brings out the taste and crispiness,” starts Jean-Baptiste Robert, Managing Director of Peter’s Yard, enthusiastically. “Peter’s Yard has a wide range of crackers and flatbreads that can be used as toast, as an alternative to bread or just as a healthy snack. The crackers and flatbreads come in different flavours and sizes and there is also a ‘Selection Box’ on the market, which offers consumers a mix of all Peter’s Yard products.”

“The market penetration rate of Peter’s Yard in the United Kingdom is still modest at this point, but the potential is enormous,” says JeanBaptiste. “Over the past year, Peter’s Yard has been the fastest growing brand in its category in the United Kingdom. We are at the start of an incredibly beautiful growth story. There are already some strong players, such as Jacobs, Carrs or Ryvita, who have built up the category of savoury snacks. But this category is particularly large in the United Kingdom and continues to grow.”

“The strength of the Peter’s Yard brand mainly lies in the superior taste and crispiness of the products. Building on the brand’s strong foundation, we believe we can leverage Lotus Bakeries’ expertise and experience to further accelerate Peter’s Yard’s growth,” adds Twan Thorn, Managing Director of Kiddylicious. “And the ambitions are particularly high. With Peter’s Yard, we want to be United Kingdom’s best-known and best-rated sourdough cracker brand.”

More Distribution Channels

In order to achieve these objectives, a sustainable growth plan was drawn up. This plan focuses on increasing brand awareness on the one hand and strengthening the distribution channels for Peter’s Yard on the other.

“Specialist shops have always been important sales channels for Peter’s Yard,” says Jean-Baptiste. “We are well represented in the best cheesemongers and farm shops in the United Kingdom. They are among the most powerful ambassadors for our brand and we will certainly continue to strengthen these relationships in the future. But if we want to make it quicker and easier for new customers to find our products, we will have to use more and also different distribution channels.”

“Peter’s Yard experienced strong growth in the retail channel in 2022. Retailers like Sainsbury and Waitrose offer a wide range of Peter’s Yard products and the brand has particularly good rotations. These successful steps, in such a short time, confirm our belief in the brand,” Twan adds.

In addition, it is precisely in the area of distribution that Lotus Bakeries can add value. “We are confident that the distribution network, contacts and experience of the Lotus teams will help take the brand to the next level,” says Jean-Baptiste. “Our goal now is to expand the distribution for our ‘hero’ products, being the crackers, flatbreads and the ‘Selection Box’, in the short term.”

“The initial focus will mainly be on the further acceleration of the growth of Peter’s Yard products in the United Kingdom. Should steps be taken to the international markets in time, the network and experience of Lotus Bakeries will also be of great added value,” says Twan.

Management is already confident in the cooperation between the two teams. In the past three years, Twan and Jean-Baptiste, as Managing Director Kiddylicious and Commercial Director Kiddylicious, respectively, have succeeded in growing the Kiddylicious brand to become the largest

‘Baby Finger Food’ brand category in the United Kingdom. It is up to them to now also continue to write the success story of the Peter’s Yard brand.

Optimising Production Capacity

In view of this growth story, further investment will also have to be made in production capacity. “We currently have one production line, but we are looking at how we can optimise the production on this line. In addition, we are mapping out what additional capacity will be needed to track and support future growth,” says Jean-Baptiste. “Optimising the current production capacity on the one hand and investing in additional capacity on the other are both important aspects to ensure Peter’s Yard’s future growth and success.”

GREAT ADDITION TO LOTUS™ NATURAL FOODS PORTFOLIO

Lotus Bakeries wants to offer every consumer a diverse range of healthy and tasty snacks for every moment of the day. Peter’s Yard is therefore a great addition to the existing portfolio of Lotus™ Natural Foods.

Lotus Bakeries had already acquired an interest in Peter’s Yard through the Fast Forward 2032 investment fund. FF2032 invests in promising brands and growth companies that develop innovative products, technologies or market approaches in the broader food and beverage sector, focusing heavily on the ‘better-for-you’ segment. Peter’s Yard was the first minority holding and has been owned by Lotus Bakeries since summer.

“This has given us the opportunity to first work with the founders for multiple years and get to know the brand really well before being at the wheel ourselves,” says Jean-Baptiste. “It was a real pleasure to be able to work with them throughout those years. Our team is now all set to continue writing Peter’s Yard’s beautiful story for the future!”