Italian company Ferrero Rocher to invest Rs. 367 crore in India.

Italian chocolate maker Ferrero Rocher has said Rs. 367 crore in India, it will invest its biggest investment so far in the country, to ramp up its pro duction facility and distribution network. The maker of Kinder Joy chocolates and Nutella chocolate-hazelnut spread en tered the country seven years ago and its brand Ferrero Roch er is ahead of the country's largest chocolate maker Monde lez in the premium gifting category. In terms of revenues, it is within striking distance of Nestle's chocolate division with annual sales of over Rs. 1,000 crore.

'Ferrero is expanding its production facility at Baramati Maharashtra and strengthen ing its warehousing and distri bution in India. We will continue to invest in the Indian market and have a long-term commitment to India,' said a spokeswoman at Ferrero India.

Indian operations are already the third-largest for the company after Italy and Germany in number of workforce. Its Baramati plant makes Kinder Joy chocolates and Tic Tac for India as well as for exports to China, the Middle East and SE Asia.

ET