Lotte Confectionery acquires majority share in Parrys Confectionery

South Korean confectionery concern Lotte Confectionery has acquired a majority share Indian company Parrys Confectionery Ltd. Lotte is convinced that the Indian market serving a population of 1 bn will play a key role in the future. Parrys is to be renamed Lotte India. In addition Lotte Tokio has launched a joint venture with the DS Group in India, a company specialising in tobacco. The joint company will be known as DS Lotte and will also market chewing gum. A new factory for manufacturing gum is to be constructed to the north of New Delhi.