Lotus Bakeries tops BEL 20 on Mondelez deal in India
** Shares in Lotus Bakeries LOTB.BR rise 2% to the top of Belgium's BEL 20 index .BFX after the biscuits maker signed a partnership with Mondelez MDLZ.O on Lotus Biscoff brand and co-branded products in India
** Cadbury-parent Mondelez will manufacture, market, distribute and sell Biscoff cookies in India
** ING ("hold") says the deal is "defining for Lotus Bakeries' future growth story"
** ING notes the brand will enter the sizeable Indian biscuit market, evaluated by some market research reports at around $5 billion, with a high single-digit percent CAGR expected over the medium term
** "Given that Mondelez is very big in India with local production and knows the market very well, this partnership should clearly result in a boost for (Lotus Bakeries') Indian sales levels which were still minimal until today," Degroof Petercam ("reduce") says
** The companies will also develop and market co-branded chocolate products in other markets, with first products expected to launch in early 2025
Reporting by Olivier Cherfan
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