Lotte scoops up Indian ice cream maker

Lotte Confectionery has agreed to buy ice cream maker Havmor in the biggest Korean acquisition to date of an Indian company. It could be the start of a big new M&A trend.

South Korea’s Lotte Confectionery said on Thursday that it will acquire Indian ice cream maker Havmor for Rp10.2 billion $158 million, getting a bigger helping of the vast Indian consumer market and potentially blazing a new intra-regional trail of Asian MA.

The confectionery arm of conglomerate Lotte Group whipped rivals including Nestle and Hindustan Unilever in its pursuit of Havmor, a privately-held, 73-year-old ice cream company that sells under its own brand and its Huber Holly chain of dessert parlours.

And it may yet be ordering more from the Indian menu, if a news report that the Lotte Group might invest as...

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