Bangalore: Wipro Ltd and Cargill announced that they have signed an agreement wherein Cargill acquires Wipro’s Vanaspati brand “Sunflower”. The scope of the acquisition is limited to the product brand only.
"Acquiring Sunflower Vanaspati underscores Cargill's long-term commitment to growing our consumer food business in India. It is an excellent fit with our existing strong brand portfolio through which we serve a significant consumer base across the country,” said Siraj Chaudhry, Chairman, Cargill India.
Anil Chugh, Senior Vice President, Wipro Consumer Care said “As part of our strategy we continuously assess the portfolio of the businesses we are in. We have identified our core market segments to be Personal Care, Skin Care, Wellness and Lighting and in line with our strategy we are divesting the Sunflower Vanaspati business. We are confident that Sunflower Vanaspati, which has a strong presence in Western India, will reach greater heights with Cargill, who are focused on Vegetable Oil & Vanaspati business”.
He added “Sunflower Vanaspati business was about 1% of total Wipro Consumer Care and Lighting revenue. All employees related to this business will be absorbed in our current operations.