George Weston to invest in ‘high protein’ breads in New Zealand
Baked goods manufacturer George Weston Foods (GWF) has announced it is investing $2 million in developing and marketing ‘high protein’ breads in New Zealand, in an attempt to add value to the white bread category.
The Company is introducing a new range of bread, Tip Top High Protein, in New Zealand. GWF said the new range of bread has “almost double the protein found in Tip Top Supersoft bread”. The bread comes in two varieties: Tip Top High Protein and Tip Top High Protein with Grains.
GWF is the Australian subsidiary of UK-based Associated British Foods, which operates Sugar, Agriculture, Retail, Grocery and Ingredients businesses in 47 countries. Associated British Foods employs over 113,000 people globally, and recently reported Group revenue of £6,248 million for the quarter ended 28 February 2015.
“Bread manufacturers have been bearing the brunt of the supermarket price war, with margins compressed by $1 bread offerings,” said Mark Adam, NZ GM baking division, George Weston Foods. “Our response has been to invest in developing and marketing higher value products that will appeal to traditional white bread buyers and let them give their families something that’s better for them than $1 bread.
“Over the next few months we will invest $1 million on better for you products, and a total of more than $2 million over the next couple of years, putting value back into a category that’s been hard hit,” Mr Adams said.