Lotte Confectionery Acquires Havmor Ice Cream Brand

Lotte Confectionery Acquires
Havmor Ice Cream Brand


Home-grown ice-cream brand Havmor announced its acquisition by Lotte Confectionery for Rs 1020 cr. Promoters of Havmor Ice Cream Ltd. (HIL) have agreed to a 100% acquisition by Lotte Confectionery.

Lotte Confectionery has decided to acquire 100% of shares of HIL during its Board of Directors meeting held on November 23. Post-acquisition of Havmor, Lotte Confectionery will start its ice cream business in the Indian market that boasts a population of approximately 1.3 billion customers. The Share Purchase Agreement has been executed in the afternoon of November 23. 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.

HIL was founded in 1944 and is headquartered in Ahmedabad, Gujarat. Havmor boasts a unique product portfolio with a significant parlor network operating across 14 states in India. The company manufactures 150 kinds of products from two plants and sells from around 30,000 dealers.

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