Lotte to invest Rs 550 cr in Indian ice cream expansion

Sout the e Mouth Korean food giant Lotte Confectionary is growing its ice cream business in India. In order to do this, the business is thinking of spending Rs 550 crore over a five-year period to increase Havmor Ice Cream manufacturing. The report said that Lotte acquired the Ahmedabad-based Havmor Ice Cream Ltd for Rs 1,020 crore and has been trying to upgrade its facilities, systems, and staff since the acquisition. Speaking on the subject, Managing Director of Havmor Ice Cream, Komal Anand told Mint, "We have planned investments of Rs 550 crore over the next five years."

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The company plans to develop a state-of-the-art manufacturing plant in Maharashtra's Pune district, which is expected to become operational by June 2024. This plant is one of the key elements of the company's expansion plan in the country. Havmor operates facilities in the Ahmedabad and Faridabad districts and is working to expand its capacity as the demand grows, leaving its current prod