Nichols holds on to low-performing Panda brand

The group chief executive of Nichols, the soft drinks firm, has pledged to hold on to the firm’s Panda brand for the foreseeable future, despite its poor performance in the market.

In the company’s full-year results, published last week, Brendan Hynes said: “Despite making great progress with the Vimto brand in the UK … we were less successful with Panda, which has suffered from the decline in the ‘kids carbonate’ market and also from a number of multiple retailers deciding to move away from single bottles and into multipacks.”
Speaking to Food Manufacture​, Hynes said the company would not invest in the brand in the coming year, but added: “We will continue to sell and market Panda.”
Nichols has launched Vimto in a 250ml ready-to-drink pouch format with a twist cap, boasting no artificial colours and preservatives and aimed at teenagers. The firm has dubbed the formulation it has used as its ‘secret fruity mixture’. The packaging is made from foil to preserve freshness and can be recycled.
Hynes said Nichols would continue its work with the British Soft Drinks Association on eco-friendly initiatives and was currently focusing on minimising inbound and outbound journeys to distribute products.
In the year to December 31, Nichols posted group pre-tax profit growth of 11.1% to £10M on revenues up 1.6% to £56.2M, with 16.1% growth in Vimto brand sales. The company reported strong growth in its dispensing operations, dispensing cold soft drinks on draught in leisure, foodservice, hotel and restaurant channels.