South Korean confectionery company Lotte Confectionery is investing a total of US$56.9 million into building a new ice cream factory located in India.
The investment will be used to building a 60,000 square metre facility in Pune, Maharashtra, to increase Havmor Ice Cream’s production capacity in the country. The new facility is expected to create approximaely 1000 jobs.
Lotte Confectionery acquired Havmor Ice Cream in 2027 for US$157.8 million, with the business based in the Gujarat state in India. Acquiring Havmor marked the Lotte Group’s entrance into the Indian ice cream market as Havmor is present in over 20 states and to date, operates 216 ice cream parlours.
“Lotte sees India as a strategic market, and this investment decision demonstrates the confidence that the group has in the growth opportunity India has to offer. Revolutionising the Indian palate with lip-smacking options that satisfy consumer demand has been at the centre of our initiative,” explained Komal Anand, Managing Director of Havmor.
Lotte Confectionery is already involved in selling confectionery to India, as it produces the Xylitol chewing gum brand as well as candy, chocolate, biscuits and snacks. It operates factories in China, Singapore, Myanmar, Pakistan and Kazakhstan.
“India is an important market for Lotte, and we are very excited to announce our first-ever ice cream facility built with Korean expertise in manufacturing, supply chain metrics and processing in India. The new plant will be instrumental in strengthening and growing the brand’s reach in India,” added Choi, Chief Globalisation Officer at Lotte Confectionery Korea.
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