LOTTE Confectionary to invest INR 450 crores in Havmor Ice Cream’s over the next five years. This includes a new production facility at MIDC Talegaon in Pune, Maharashtra.
One of the first ever Korean-themed facility in India reflected in its design & engineering
Company aims to create employment opportunities for over 1000 people during the investment period
Havmor Ice Cream, one of India’s most loved and trusted Ice Cream brands and a subsidiary of the South Korean company LOTTE Confectionary, has committed to investing INR450 crores over five years. This investment comes four years after LOTTE Confectionery acquired Havmor Ice Cream for INR1000 crores in December 2017. Havmor Ice Cream is one of India’s fastest-growing ice cream brands with a strong presence in more than 20 states and operates 216 exclusive ice cream parlors in India
Through sustained growth over the years, Havmor Ice Cream is set to ramp up its capacity and cater to the growing demand in the Indian market. Havmor Ice Cream will use this investment over five years and has announced its plan to set up a new manufacturing facility at MIDC Talegaon, Pune. This cutting-edge facility with high-end engineering and design innovation will be the brand’s first-ever Korean technology-based facility in India. This facility will be made on a total area of 60,000 sqm leased from MIDC and will lead to a significant increase in its production capacity to meet future demand. The facility will be fully functional in 2024.
Sharing his thoughts on the announcement, Komal Anand, managing director, Havmor Ice Cream, said, “LOTTE sees India as a strategic market and this investment decision demonstrates the confidence that the group has in 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.”
He added that the headroom to grow consumption is large, given that per capita consumption of ice creams is low when compared with other Asian countries. With this facility, we aim to expand our footprint and stem our position in the long run.
Commenting on the investment, Choi, chief globalization officer, LOTTE Confectionery Korea, said “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 and processing in India. The new plant will be instrumental in strengthening and growing the brand’s reach in India.”
With the new facility, Havmor Ice Cream will generate employment opportunities for 1000 people from the communities around. The facility will be an addition to Havmor Ice Cream’s existing manufacturing units in Ahmedabad and Faridabad.