Barcelona-based confectioner Joyco recorded sales of over €330m in 2000, an increase of 19%. In 1999 sales had already grown 21%, the company said in a press release. Joyco, formerly called General de Confiteria, emerged as a new corporate identity in 1999, as a result of the company’s decision to redefine corporate identity and strategy.
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Added value products and international expansion were defined as the two key factors for future growth. In line with this strategy, Joyco last year opened a new gums and lollipops factory in Toluco, Mexico, acquired 100% ownership of its Chinese affiliate, entered into a distribution alliance with the Danish chewing gum producer Dandy (Stimorol) in Russia and expanded lollipop production capacity worldwide up to 2 billion units per year in four production units.
In addition, Joyco entered into agreements with Hasbro, Zeta Espacial, BIP Holland and Cadbury in Europe for the distribution of their products by Joyco’s European affiliates and joint ventures
In 2001, Joyco will set up two new operations: Joyco Trolli China, a 60/40% joint venture between Joyco and the German Mederer Group to produce and sell jellies in China, and Joyco URC Philippines, a joint-venture with the Universal Robina Corporation, part of the J.G. Summit Holding Group
Joyco has also set up a new division, Joyco Toys, which will focus on the development of novelty candy (toys combined with chewing gum or sweets). The family-owned Spanish company, led by Xavier Mir, is active in 70 countries worldwide and claims to be the world’s largest bubble gum producer.
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By GlobalData
