US based Food Producer Cargill India acquired Wipro's Sunflower Vanaspati brand

US-based food producer and marketer Cargill India on 10 December 2012 announced the acquisition of  the Sunflower Vanaspati brand from Wipro.

The deal is going to help Wipro in strengthening its leadership position in the market and is expected to shore up Cargill's consumer brand portfolio and expand its market reach. Cargill and Wipro did not disclose the deal value of the brand but as per the trade analysts the deal was pegged at 30-40 crore Rupees.

Since 2007, Wipro had been trying to get out of its traditional edible oil business which was started by Azim Premji's father Mohammad Hussain Hasham Premji in 1949 at Amalner, in Jalgaon district of Maharashtra.

Sunflower Vanaspati accounts for barely 1% of Wipro Consumer Care and Lighting's revenue. Wipro's Consumer Care and lighting business segment recorded revenues close to 2000 crore Rupees for the first half of the current fiscal 1 April 2012 to 31 March 2013.

Cargill India besides marketing its edible oil portfolio that includes brands such as Nature Fresh, Sweekar and Gemini, also locally produces and markets Vanaspati under its brands Rath, NatureFresh Purita and, Gemini.