Mill & Folks traditionally concludes the year with a company lunch before the holidays. It is also a tradition for our CEO, Miklós Véha, to deliver a year-end speech before the feast. Below is an excerpt from his review:
Innovation and Development
This year, we successfully introduced innovative technologies that will mark a new chapter in the company's history. With the launch of a new design for our Cupster soups and advancements in manufacturing technology, including automation, we will soon be able to produce instant soups on a larger scale. This will allow us to serve a broader range of distributors and customers, enabling a stronger presence in international markets. The new production process is expected to start in February, significantly increasing our manufacturing capacity.
European Presence
Despite challenges posed by domestic economic conditions, such as inflation and the energy crisis, our international strategy has provided a solid foundation. Strengthening our presence in Western markets and expanding exports remain top priorities. In addition to covering Anglo-Saxon markets, we plan to gradually expand into the DACH region.
Over the years, we’ve observed clear differences within European markets. While gluten-free baking ingredients remain popular in Hungary and other Eastern European countries, Western European consumers tend to focus more on ready-to-eat products. This makes our Cupster product line, which offers instant soups and pasta dishes, a key growth driver for our international expansion.
Mill & Folks' work has demonstrated that Hungarian innovation and expertise can succeed on the global stage. Moving forward, our goals remain focused on growth, expanding exports, and launching new product lines. Each year brings new opportunities for further growth and success.
Heading to the Middle East!
Our international connections strengthened in 2024, thanks to our participation in two Dubai conferences: the Gulfood and Free From Food Expo. The experiences and partnerships gained at these events have brought us close to a significant international collaboration. While I can’t share details yet, I’m optimistic that by the first quarter of 2025, we’ll have exciting news to announce.
However, I am proud to share that we’ve established a partnership in Saudi Arabia, involving interests from the Saudi royal family. In early 2025, the country’s first industrial-scale gluten-free bakery will open, providing fresh gluten-free baked goods to a wide audience. It’s a tremendous honor for us to be the first Hungarian company exporting gluten-free flour mixes to Saudi Arabia.
Insights gained from factory visits indicate that our Bake-Free flour mixes have significant potential in the Middle Eastern market. Trial productions expected in early 2025 will pave the way for these products to become widely available worldwide.
Gratitude to the Team
The year 2024 was not without its challenges, with several situations requiring significant effort to overcome. However, we successfully navigated them together. I want to thank everyone for their hard work and support throughout the year.
Overall, I can confidently say that we have assembled a fantastic team. The company operates with the strengths of a family business, where everyone steps in to help wherever needed. This flexibility and cohesion have been key to our success in completing the year.
