Hangyo Ice Cream Secures Major Investment for Growth and Expansion
Investment Overview
Hangyo Ice Cream, based in Mangaluru, has raised approximately Rs 211 crore from Faering Capital, a leading private equity firm. The investment is set to enhance production capabilities, accelerate new product development, and expand the company's presence in key southern Indian markets.
Impact on Company Growth
With this funding, Hangyo plans to invest heavily in advertising, which will aid in market expansion. Its managing director, Pradeep Pai, reported that Faering Capital now holds a 24% equity stake in the ice cream brand.
- Hangyo Ice Cream has established a network of about 350 distributors.
- The company aims to boost revenue from Rs 300 crore to Rs 700 crore in the next four years.
- Currently, Hangyo operates two manufacturing facilities producing 120,000 litres of ice cream daily.
The Growing Ice Cream Market
India’s ice cream industry, worth around $5 billion this year, is seeing a surge in new brands. Emerging companies are contending with traditional giants like Amul and Hindustan Unilever.
With this investment, Hangyo Ice Cream is poised to scale up its operations significantly and capture a larger market share.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.