Lotte buys entry to sweet market with Parry stake

Soo-Kil Han, chief executive officer of Lotte Confectionery said: "In line with Lotte's strategy of investing in fast growing markets, the acquisition of PCL would provide Lotte with substantial opportunities for an entry into the Indian market." The confectionery industry in India is an active and competitive market, with recent entries from players like Hindustan Lever and ITC, although the leaders today are Perfetti Van Melle and Joyco, two players that changed the market dynamics when they entered. PCL has been one of the pioneers in the confectionery industry in India -- it has had a presence in this market for close to nine decades and was incorporated as a separate company in 1954.