Lotte Confectionary to infuse Rs 450 crore in Indian unit Havmor Ice Cream

18 Jan 2023 , 11:30 AM

According to a top company official, Lotte Confectionary of South Korea will invest Rs450 crore in its Indian unit Havmor Ice Cream over the next five years, with a large portion going toward the establishment of a new greenfield plant to increase manufacturing capacity.

As per Havmor Ice Cream’s Managing Director Komal Anand, the investment is to establish a new greenfield plant at MIDC Talegaon in Pune, Maharashtra, expand the capacity of the existing Faridabad-based unit, supply chain, and go-to-market strategy.

Its Talegaon plant would be operational by the fourth quarter of 2024, producing the Lottee range of premium ice cream.

According to its marketing strategy, Lotte Confectionary, which acquired Havmor Ice Cream for Rs1,000 crore in December 2017, has positioned the home-grown brand in the mass affordable segment, while positioning Lotte brand ice cream in the slightly higher mid-premium range.

Furthermore, the company would make capital investments and build a freezer infrastructure in order to expand further in the consumer market.

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