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.
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It is being manufactured and distributed in India by MTR Foods, which Orkla acquired in February 2007 for about $80 million, or ₹355 crore.
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