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Posted on Dec 11, 09:15AM | IANS
Wipro Ltd has divested its Sunflower brand vanaspati (hydrogenated fatty oil) to Cargill India as part of its strategy to focus on consumer care products.
"As part of our strategy, we have identified our core market segments to be personal care, skin care, wellness and lighting and accordingly, we are divesting the Sunflower vanaspati business," Wipro Consumer Care vice-president Anil Chugh said in a statement here Monday.
Sunflower vanaspati business was around one percent of total Wipro Consumer Care and Lighting's revenue.
"All employees related to this business will be absorbed in our current operations," Chugh said.
Cargill India chairman Siraj Chaudhry said acquisition of the Sunflower brand from Wipro underscored the company's commitment to grow consumer food business in India, with focus on vegetable oil and vanaspati.
"It is an excellent fit with our strong brand portfolio through which we serve a significant consumer base across the country," Chaudhry said in the statement.
The brand has a strong presence in the western region.