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La Menorquina ice cream maker has its sights set on international growth, with the United States as its most ambitious target. The brand, which is part of Lacrem (owned since 2020 by the Cheyne Capital fund and also owner of Farggi), has entered the country after signing up with distribution giants such as Costco and Walmart.
Under the management of Iván Leal, the company closed last year with results that met expectations, reaching a total turnover of 120 million euros, of which more than 40 million came from sales outside Spain. This figure represents an almost threefold increase compared to three years ago, when exports were approximately 15 million euros. The company has taken an important step with the opening of a subsidiary in the United States to further boost its expansion.
The success of Honeycomb
La Menorquina’s entry into the United States had a turning point with the Honeycomb sandwich, a combination of chocolate, caramel and biscuit. Costco, the largest retail chain in the country, backed the product as an initial test. The market response was so positive that, in just months, the sandwich was distributed in more than 600 Costco shops nationwide. This has resulted in an order for 100 containers, or 10 million units of Honeycomb. In addition, the product’s packaging has been redesigned to include the La Menorquina brand, and from this, the most appreciated company on Costco’s shelves.
Walmart agreement
The agreement with Walmart, another retail colossus, marks another important milestone in La Menorquina’s international expansion. The company has already been validated as a supplier and has been validated as the first shipments are expected to be made in the second half of the year. This agreement with Walmart also opens the doors to the Chinese market through its subsidiary Samés Club, its subsidiary in the country.
The arrival of Donald Trump to the presidency of the United States opens a debate about the penalisation of this type of exports, and the increase in tariffs.
Lessons from Marks & Spencer
La Menorquina has strengthened its relationship with large international chains such as Marks & Spencer, its main customer in the United Kingdom. In the United Kingdom we are the main ice cream supplier for Marks & Spencer, with around 25 references. If we have been able to meet the demands of such a demanding client, ‘why not try it with Costco or Walmart’, Llistosella reflects.
The United Kingdom continues to be La Menorquina’s main international market, although the United States is gaining ground and is emerging as the second in terms of turnover. Both countries already account for half of the company’s international business, followed by Portugal, where it operates under its own brand. Looking ahead to 2025, La Menorquina values a turnover of 50 million euros in the global market, consolidating its international presence.