Lotte acquires Chinese confectionery company

The South Korea-based Lotte Confectionery Company, which already has an estimated 14% stake in the world’s chewing gum market, has acquired a 100% stake in the Chinese confectionery Jinhu Shipin of Qingdao for US$14.88m. The new company will be called Lotte Quingdao Foods. Last year Jinhu Shipin notched up a US$4.9m. Lotte, together with gum giant Wrigley, account for 50% value sales of the overall Chinese confectionery market.


Lotte already has an interest in the Indian confectionery market, through its arrangement with Chennai-based Parry’s Confectionery, and has since outlined its intention to move into a number of other product areas including chocolate confectionery, biscuits and ice creams.