Beloxxi Cream Crackers
- Website: www.beloxxigroup.com
- Sector: Consumer Services
- Country of operations: Nigeria
Beloxxi Cream Crackers is already a household name in Nigeria – and they’re only likely to become even more popular in the coming years. The country’s biscuit market is growing by 10-15% a year, thanks to a combination of increasing urbanisation, rising incomes, a young and fast-expanding population – and the growing popularity of biscuits as a convenience snack.
The company that produces the famous crackers, Beloxxi Industries Limited (BIL), is well positioned to meet the growing demand. Its crackers are already sold nationwide through more than 300 distributors and supermarket chains, such as Shoprite and Spar, while the brand also boasts an international customer base within the Nigerian diaspora in the UK and the US.
“We offer consumers a compelling value proposition”
If its large distribution network is central to Beloxxi’s success, then so is pricing. The company’s strategy has been to position its products as an affordable snack, without compromising on quality. “We are able to offer our consumers a compelling value proposition relative to the competition,” says CEO Obi Ezeude.
The firm’s modern production facility at Agbara in Ogun State – located about 60km outside Nigeria’s largest city, Lagos – together with a young and vibrant workforce, are other factors in its success. The company’s plans for further growth received a boost in August last year, when a consortium led by the pan-Africa fund 8 Miles invested $80m in Beloxxi. “Following the recent equity investment, we are well positioned to increase our capacity and grow in both our domestic and export markets in the coming years,” says Obi.
- 300+ distributors and supermarkets sell Beloxxi Cream Crackers
“A new production line will increase our capacity by about 20%, and further expansion will follow over the next two to three years.”