The Australian unit of UK confectionery and soft drinks firm Cadbury Schweppes is to invest around A$5m (US$3.8m) into the launch of its Boost chocolate bar.
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According to the Australian Financial Review, the company is hoping the product will become one of the top ten brands in the Australian chocolate bar market.
Boost was launched in Australia in mid-March, but promotional support, including television and cinema advertising, product sampling and sponsorship, are set to begin soon.
Cadbury launched Boost in the UK in 1984 and now Boost’s sales there are worth £20m (US$37.5m) a year. In Australia the company hopes Boost will capture a 3% share of the market, the Australian Financial Review reported. Cadbury Australia’s biggest-selling chocolate bar is Cherry Ripe, which is currently ranked fourth in the market behind Mars bar, Kit Kat and Snickers.
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