Hovis and Mr Kipling brands will both see multi-million-pound investment between now and 2014, according to Jon Goldstone, head of group marketing at parent company Premier Foods.
The company has a raft of new bakery launches planned as it disposes of some assets in order to reduce debt and free up money for investment in brands and marketing. Premier sold Quorn Foods earlier this year and is planning to sell off its Meat Free and canned grocery business to further reduce debt.
Now narrowed down to three divisions Hovis, Grocery and Chilled British Baker learned that the Hovis and Mr Kipling brands will both see significant new launches between now and 2014. Many will be backed by substantial TV and in-store promotions during this period.
Premier currently has a 12% share of the £3.5bn bakery market and the aim is to grow it to 16%, he said, from £440m to £560m. The strategy will encompass five aims: Win in White; My Choice, My Hovis; Good to Go snacks; Worth Paying More For (out of discounting); Girls Allowed (dispelling eating myths). New 2011 launches include the recently announced Hovis Homebake, a range of branded par-baked loaves and rolls (click here for more info).
The ambient par-baked market is now worth £67m. Hovis aims to grow this considerably, relaunching The Toasting range, with new recipes and packaging. It comprises thick crumpets, soft white muffins, Scotch pancakes and fruity teacakes.
In 2012, a new ’large loaf’ will be launched and further brand extensions are planned, up to and including 2014.
For Mr Kipling, Premier will be investing £10m in the brand, said Goldstone, with a brand new celebration cake online ordering service and individual Angel and Lemon ’snap pack’ slices targeted at children’s lunchboxes.