-KH News Desk (email@example.com)
LOTTE Confectionary, has agreed to invest INR 450 crores over the next five years in Gujarat-based Havmor ice cream one of India’s most popular and dependable ice cream brands,. Four years have passed since LOTTE Confectionery Ltd. paid INR 1,000 crores to acquire Havmor Ice Cream in December of 2017.
With a significant presence in more than 20 states and 216 unique ice cream parlours, Havmor Ice Cream is currently one of India’s fastest-growing ice cream brands.
“LOTTE sees India as a strategic market & this investment decision demonstrates the confidence that the group has on the growth opportunity India has to offer. Revolutionizing the Indian palate with lip-smacking options that satisfy consumer demand has been at the center of our initiative. The company launched its global best seller ice cream LOTTE World Cone in 2021 and the acceptance of this product has exceeded expectations,” shared Komal Anand, Managing Director, Havmor Ice Cream.
Havmor Ice Cream is prepared to increase its capacity and meet the rising demand in the Indian market thanks to consistent expansion over the years. With this investment, Havmor Ice Cream plans to build a new manufacturing plant at MIDC Talegaon in Pune over the course of five years.
This state-of-the-art facility will house the brand’s first-ever Korean technology-based facility in India and feature cutting-edge engineering and design innovation. In order to satisfy future demand, this facility, which will be built on a total area of 60,000 sqm leased from MIDC, will significantly boost its production capacity. In 2024, the building will be completely operational.
“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 & processing in India. The new plant will be instrumental in strengthening and growing the brand’s reach in India,” added Choi, Chief Globalization Officer, LOTTE Confectionery Korea.