Lotte Wellfood expands plants in India for growth

SEOUL, Feb. 9 (Yonhap) -- Lotte Wellfood Co., a South Korean confectionery company, said Sunday it has expanded its manufacturing facilities in India to gain a bigger share in the world's most populous country.

Lotte Wellfood acquired local ice cream company Havmor, which has a manufacturing facility in Gujarat, in 2017 and has recently added a new plant in Pune to meet a growing demand for K-food, the company said in a press release.

The company has mainly produced Havmor's existing products in the Gujarat plant but will roll out its products in the Pune plant, it said.

"The new plant's establishment will serve as a significant cornerstone for Lotte's global food business," Lotte Group Chairman Shin Dong-bin said at the Pune plant's completion ceremony.

The company plans to increase the production lines in the new facility from nine to 16 by 2028.

Its sales in India reached 270 billion won (US$185 million) in 2023.

(END)