Cargill buys Wipro’s Sunflower
Wipro’s foundation in 1947 began with an oil crushing unit and later started manufacturing hydrogenated cooking oil, popularly called vanaspati, in 1970. The Sunflower vanaspati has been one of the flagship brands of Wipro Consumer Care & Lighting (WCCL).
Anil Chugh, senior vice-president, WCCL, 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 and vanaspati business.”
According to Chugh, the Sunflower vanaspati business accounted for around 1% of WCCL’s revenue. “All employees related to this business will be absorbed in our current operations,” he added.
Following this acquisition, Cargill will expand the portfolio of its vanaspati brands, which includes others like Rath, NatureFresh Purita and Gemini. Commenting on the deal, Siraj Chaudhry, chairman Cargill India, said, “Acquiring Sunflower vanaspati underscores Cargill’s long-term commitment to growing consumer food business in India.”
WCCL at the second quarter of FY13 fiscal reported revenue of R1,008 crore registering a yearly growth of 26%. The non-IT division accounts for 9%
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