LILO Desserts has received investment from strategic manufacturer and partner Rangiora Bakery to co-launch a new dairy-free and gluten-free desserts manufacturing line, as well as to help support US and Australia export pilots with working capital.
Rangiora Bakery is one of Australia and New Zealand’s largest desserts and baked goods manufacturers located in Rangiora, Christchurch. Rangiora Bakery has a rich history of artisan baking dating back to 1860 and partners with a variety of multinational QSR, foodservice and catering customers in over 30 countries.
This investment cements LILO and Rangiora Bakery’s strategic partnership focused on R&D, shared retail and foodservice desserts innovation utilising re-valued fruits, and scaling up dairy-free desserts with a focus on New Zealand, Australia and USA markets.
LILO and Rangiora Bakery are focused on rapidly increasing demand for premium, great tasting gluten-free and dairy-free desserts. According to the Plant Based Foods Association, US retail sales of plant based foods continue to increase, where the category is projected to grow at 10% CAGR from US$5.6 billion in 2020 to US$11 billion in 2027.
Given the rise of flexitarianism and food technologies allowing for delicious tastes and textures, millennial and Gen Z customers, along with many of their wider family members, are now opting for permissible indulgence occasions away from the freezer and that don’t cost the earth.
“We’re excited to deepen our partnership with Ron and his expert team at Rangiora Bakery to unlock the next phase of growth for LILO” says LILO General Manager Sam Guernier. “We’ve been working closely together focused on R&D and innovation for two years, so this feels like a natural next step for our organisations. Simply, we get to make more delicious desserts together that utilise and re-value fruits otherwise wasted. We feel like we are just getting started - there’s so much to do!”.*https://www.plantbasedfoods.org/2021-u-s-retail-sales-data-for-the-plant-based-foods-industry/