Coppenrath & Wiese wants to grow in the USA

19-Dec-2022 - Germany

Coppenrath & Wiese, the German market leader for frozen baked goods, plans to significantly expand its U.S. business in the coming year. It has succeeded this year in getting a listing for three to four products at U.S. retail giant Walmart <US9311421039>, CEO Peter Schmidt said Tuesday. That has doubled sales in the U.S. market to $16 million, he said. He expects the U.S. business to become the company's third pillar within a few years, added co-managing director Andreas Wallmeier.

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Germany is the main market, accounting for 76 percent of sales. 14 percent of the goods are sold in Great Britain. As early as next year, the share of sales in the USA should be six percent, said Wallmeier.

According to Wallmeier, sales of the Westphalian-Lower Saxony-based company would increase by ten percent to 480 million euros in 2022. The number of employees remained at the previous year's level of 3100. Sales volumes remained the same. The sharp rise in costs for energy and raw materials had been passed on to retailers, Wallmeier said.

He added that the company was satisfied with the result. For the coming year, however, the frozen food specialist, which belongs to the Oetker Group, is planning to increase sales again.

Vegan cakes and pies are also to contribute to this. Coppenrath & Wiese has been offering the first purely plant-based products since September. The market for vegan products has meanwhile emerged from its niche, said Schmidt: "We now consider this to be a sustainable and long-lasting trend."

With regard to energy supply, the company still anticipates shortages of electricity and gas, Wallmeier stressed.

In the coming year, Coppenrath & Wiese will therefore commission a photovoltaic plant with a total output of 2.5 megawatts. The company is also interested in wind power produced in-house. Unfortunately, there are currently no areas close to the company's site./eks/DP/mis (dpa)

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

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