Two Belgian CEOs, Jan Boone of Lotus Bakeries and Dirk Van de Put of Mondelez International, are leading the global biscuit market.
Since 2017, Van de Put has headed US giant Mondelez International, the world leader in biscuit production and the second-largest player in the chocolate market. Mondelez’s portfolio includes Oreo, the world’s best-selling biscuit, and Chips Ahoy!, which is less popular in Belgium, but ranks second globally.
On Monday, Van de Put visited Lembeke, the headquarters of Lotus Bakeries. The company, known for its Biscoff speculoos, ranks fifth in worldwide biscuit popularity. CEO Boone aims to elevate Biscoff to No.3 position globally.
New chocolate products in the offing
Van de Put’s presence in Meetjesland is part of the collaboration between Mondelez and Lotus Bakeries. Officially started in 2024, this partnership will see Mondelez produce and distribute Lotus Biscoff biscuits in the Indian market. Expectations are high. “Biscoff can generate $100 million in revenue in India within five years; anything less would be disappointing,” Van de Put said, adding, “India, being a tea-drinking nation, pairs well with Biscoff.”
The two companies are also working together to develop new chocolate products. On Monday, they presented a Côte d’Or chocolate bar with speculoos pieces, specifically intended for the Belgian market. Similar products have been launched with other major Mondelez brands such as Cadbury and Milka, with plans to expand this collaboration.
The partnership began with an email from Boone, leading to discussions and eventually a collaboration. “It’s the result of two Flemish leaders creating a win-win situation for both companies,” said the Mondelez CEO.
No question of a takeover
An acquisition of Biscoff by Mondelez has never been considered and is not on the agenda, the executives assured. “Lotus Bakeries is very successful and valuable. This partnership was never entered with that intention,” Boone stressed. “We are an independent, family-owned company listed on the stock market, and we intend to remain so,” added Van de Put.
Both companies face a market where tariffs are regularly announced or postponed. Lotus Bakeries operates a factory in the US for the North American market, a move praised by Boone. The impact of trade tensions is therefore “manageable.” For Mondelez, tariffs are “negotiable,” according to Van de Put, who noted that “the biggest risk is unpredictability.”
Mondelez’s CEO believes “common sense will ultimately prevail,” although his direct influence is limited. “We have the opportunity to discuss with the government, but it’s currently quite challenging to address these issues with the Trump administration,” according to Van de Put, who has met the US President twice.
