On July 30, Lotte Wellfood announced its decision to merge its subsidiaries, Lotte India and Havmor, to form a unified entity in India. The consolidation aims to strengthen the Lotte brand’s presence in the Indian market by integrating its confectionery and ice cream businesses.
Both companies held board meetings on July 29, where the merger plan was approved. The merger will involve Lotte India, a confectionery corporation, absorbing Havmor, an ice cream company. Despite the merger, the Havmor brand will continue to be developed and expanded. The company plans to complete the necessary procedures, including securing shareholder approval, by the end of the year and officially launch the integrated entity early next year.
India is a key strategic market for Lotte Wellfood, as demonstrated by CEO Paul Yi’s choice to visit India as his first overseas destination earlier this year. During his visit, he announced plans for future investments and the operation of Indian subsidiaries, including establishing a global production base.
The merger of the Indian subsidiaries aims to enhance management efficiency and maximize synergy between the two companies. Beyond external growth, the plan includes strengthening the product portfolio and integrating logistics and production bases to solidify the Lotte brand’s market power in India.
