Cargill to buy Marico's "Sweekar"
Agencies: Gurgaon, Mar 25 2011, 17:46 IST
Privately-held global food producer Cargill today said it has inked an agreement with Mumbai-based FMCG firm Marico Ltd to acquire the latter's refined sunflower oil brand "Sweekar".
The scope of the acquisition is limited to the product brand only, Cargill said in a statement.
"Acquiring the "Sweekar" brand underscores long-term commitment to growing our consumer food business in India," Cargill India Chairman Siraj Chaudhry said.
"By adding Sweekar to our broad range of healthy and low absorption oil, we are now even better able to serve the growing number of health conscious consumers in India", he said.
Cargill already produces and markets sunflower oil locally under its NatureFresh and Gemini brands.
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