South Korean snack maker Lotte Confectionery Co has acquired Chinese chocolate firm Shanghai BBCA Aloha Chocolate for US$20m, according to local reports.
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Lotte, which acquired pie and snack production facilities in China last year, has purchased two factories with an aggregate annual capacity of 30,000 tons of chocolate, reported the Asia Pulse news service.
“We will now be able to provide chocolate supplies throughout China and Southeast Asia at a fast pace, which will help expand market share there,” the company purportedly said.
