Lotte Confectionery Acquires Havmor Ice Cream Brand

Icecream business

BY - Franchise India Team
Editor Nov 24, 2017/

1148

/ 3 MIN READ.

Home-grown ice-cream brand Havmor announced its acquisition by Lotte Confectionery for Rs 1020 cr. Promoters of Havmor Ice Cream Ltd. (HIL) have agreed to a 100% acquisition by Lotte Confectionery.

Lotte Confectionery has decided to acquire 100% of shares of HIL during its Board of Directors meeting held on November 23. Post-acquisition of Havmor, Lotte Confectionery will start its ice cream business in the Indian market that boasts a population of approximately 1.3 billion customers. The Share Purchase Agreement has been executed in the afternoon of November 23. LOTTE Confectionery plans to expand its market power from the northwest region to all across India with this entry into the Indian ice-cream market.

HIL was founded in 1944 and is headquartered in Ahmedabad, Gujarat. Havmor boasts a unique product portfolio with a significant parlor network operating across 14 states in India. The company manufactures 150 kinds of products from two plants and sells from around 30,000 dealers.

Meanwhile, Lotte Confectionery was one of the first Korean food and beverage companies to enter the Indian market in 2004. Since then, the $80 bn Lotte Confectionery has succeeded in localization by establishing large scale choco-pie factories in Chennai and Delhi. Last year, Lotte Confectionery reached a market share reached 90% in the Indian choco-pie market by making active investments.

Chairman Pradeep Chona and MD Ankit Chona said “This decision was a very difficult one to make. It’s a brand that we have nurtured with our team for over 73 years. But we believe that LOTTE Confectionery is the right brand to take the company to the next level. Havmor will continue to operate its signature chain of restaurants and eateries across Gujarat as well as its signature brand and concept café Huber & Holly”.

Havmor worked with its sole financial advisors KPMG, alongside Veritas Legal and Dhruva Tax consultants on the deal. The entire deal will be concluded in a weeks’ time.

Dessert

Scuzo Ice ‘O’ Magic Opens Their New Outlet in Mumbai

BY - Vijetha Iyer
Content Editor Feb 03, 2025 / 3 MIN READ

Scuzo Ice ‘O’ Magic Opens Their New Outlet in Mumbai

India's fastest-growing gelato and live-popsicle company, Scuzo Ice 'O' Magic has launched in brand-new location in Vashi, Navi Mumbai, expanding its global footprint to 54 locations. With its unique live popsicle experience, Scuzo is back to revolutionize the frozen dessert industry and provide a never-before-seen combination of sweetness and health.

The ultimate dessert will be made at Scuzo Ice 'O' Magic by selecting any number of fresh fruits and watching as their popsicle is made in front of them in a matter of minutes. The dessert options at Scuzo are extensive and include rich artisanal gelatos, crispy waffles, fluffy pancakes, creamy milkshakes, rich dessert cakes, and rich sundaes.

"We are thrilled to launch Scuzo Ice 'O' Magic in Vashi, Navi Mumbai, as we continue to transform the frozen dessert experience in India. The store reflects our commitment to innovation, quality, and bringing magic to moments for dessert lovers. We look forward to indulging the community with our signature treats made from 100% real fruits and premium ingredients," stated Mohammad Farhan, Managing Director, Scuzo Ice 'O' Magic.

With sustainability in mind, Scuzo Ice 'O' Magic continues to produce high-quality, health-conscious sweets as it broadens its customer base. In order to combine sustainability and creativity, Scuzo, an environmentally concerned company, launches new goods including flavored, edible rice straws. The brand's focus on reducing its environmental impact demonstrates its goal of creating desserts that are both aesthetically pleasing and environmentally friendly.

"Opening Scuzo Ice 'O' Magic outlet in Navi Mumbai is a dream come true. We're committed to bringing in not only top-notch treats but also an unparalleled experience that embodies the vibrancy of this fun brand. We’re eagerly awaiting the chance to welcome every dessert enthusiast to experience a universe of innovative flavours, creativity, and joy in our latest haven," said Rajashri Upasani & Shrikant Upasani, Franchise Unit Partners for Scuzo Ice ‘O’ Magic.

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