Jefferies initiates Lotus Bakeries at 'buy' on brand expansion aim

Jefferies initiated coverage of Belgian snack maker Lotus Bakeries with a "buy" rating, citing management's ambition to make Biscoff the world's third-largest cookie brand. The brokerage noted Biscoff's revenue growth accelerated in H1 2026, supported by a €500 million capacity expansion programme, rising U.S. household penetration, and geographic expansion. A partnership with Mondelez will aid expansion in markets like India and Brazil, while diversification into Natural Foods, representing 25% of revenue, creates a second growth engine. Among 12 analysts covering Lotus Bakeries, five rate it