Tate & Lyle in brand link-up for breakfast bakery
Lyle hunts for growth in the competitive breakfast market raising
brand awareness for a new product that contains the company's
flagship golden syrup, reports Lindsey Partos.
Linking up with malt and fruit loaf manufacturers Soreen, 'Lyle's Golden Syrup Fruit Loaf' is squarely targeted at the morning goods sector.
Both firms are hoping the combined brand partnership will bring in new customers and improve market share.
Soreen has a 12 per cent value share of the fruit loaf market (volume share at 15 per cent), currently worth £25.1 million (€36.6m).
"It is a very good fit between two brands with great heritage, strong appeal and consumer trust," comments Virginia Lana, franchise development manager at Lyle's Golden Syrup.
The Soreen link-up marks the third such partnership for the company's golden syrup brand. The London-based firm that also supplies sweeteners and sugars, has similar such franchises with McVities (biscuits/cakes) and Hoppers (treacle tarts/flap jacks) brands.
Brand partnerships in food are only starting to take off, but can spread risk and boost gains for the companies involved.
Last month the sweeteners arm of Tate & Lyle announced a new branding venture with the world's number one drinks giant, Coca Cola.
Under the co-branding agreement, Coca Cola will launch a new version of Diet Coke sweetened with Tate & Lyle's Splenda sucralose product, and bearing the Splenda logo on the drink's packaging.
