South Korean candy maker Lotte Confectionery has reportedly bought a controlling stake in Pakistan’s K.S. Sulemanji Esmailji & Sons.
According to the Yonhap news agency, Lotte has agreed to pay KRW20bn (US$17.9m) for 69.45% of the business.
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The report said K.S. Sulemanji Esmailji & Sons was the second-largest snack maker in Pakistan. Lotte officials could not reached for comment.
Lotte Confectionery has been busy expanding overseas in recent months. In September, the company opened its first plant in Russia. In July, Lotte started to make its Choco Pie biscuit brand in India in a new plant in Chennai.
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