Cargill has reached an agreement to acquire the Sweekar sunflower oil brand from consumer goods firm Marico.
A spokesperson for Cargill India told just-food that the acquisition was a “good fit” for the group, which already sells sunflower oils under the Gemini and Nature Fresh brands.
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“There is a lot of potential in the category…. We expect to capitalise on this opportunity and drive growth of our brands and expand in the consumer foods space in the Indian market,” the spokesperson said today (28 March).
The deal, which was for an undisclosed sum, concerns rights to the Sweekar brand only.
Marico will retain the processing facilities that previously manufactured Sweekar branded oil, a spokesperson for the Indian group confirmed. This capacity will be used to produce Marico’s premier edible oil brand, Saffola, the spokesperson said.
“The sale is part of our ongoing strategy to focus on core businesses and we plan to place our resources behind the Saffola brand,” the spokesperson said.
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