Havmor, the seventh largest ice cream manufacturer in India, makes 150 kinds of products from two plants and sells from around 30,000 dealers. Photo: AFPMumbai: South Korea’s Lotte Confectionery Co. Ltd on Thursday said that it will be acquiring Ahmedabad based ice-cream maker Havmor Ice Cream Ltd for Rs1,020 crore (approximately $157 million). Havmor Ice Cream Ltd is the seventh largest ice cream and frozen desserts maker in India with a 3.5% market share. “Lotte Confectionery plans to expand its market power from the northwest region to all across India with this entry into the Indian ice-cream market,” the statement said. Last year, Lotte confectionery reached a market share of 90% in the Indian Choco-pie market, according to the statement.

Source: Mint November 23, 2017 19:07 UTC