Norway’s Orkla ASA, introduced its chewy candy, Laban, through its nationwide network set up by its subsidiary MTR Foods, in an Indian confectionery market worth ₹8,200 crore.
The Oslo Stock Exchange-listed Orkla ASA wants to tap into the ‘huge potential’ in India as the market was growing at 7% year-on-year, Peter Ruzicka, CEO of Orkla told correspondents here on Tuesday. Laban is Orkla’s top brand offering in the confectionery segment in Norway.
A human-shaped, non-stick, fruit-flavoured chew, Laban marks the company’s first product in the confectionery segment.
It is being manufactured and distributed in India by MTR Foods, which Orkla acquired in February 2007 for about $80 million, or ₹355 crore.
