Dec 11, 2012: Wipro one of the India’s biggest IT companies which started by selling Vanaspati oil, vegetable ghee and refined oil has sold its iconic ‘Sunflower’ Vanaspti oil brand to US based Food Processing company Cargill. Wipro which was earlier called Western India Vegetable Products Ltd. in its initial years was established in 1945 by Mohamed Hasham Premji. Azim Premji his son, when took on the mantle in 1966 transformed Wipro into a IT company from a Vegetable Oil Products company.
Wipro aims to consolidate its position in personal care, skin care, lighting and wellness and in line with that strategy decided to divest the ‘Sunflower’ brand.
Cargill based in US has got a strong portfolio of leading edible oil and vanaspati brands and this acquisition will help them to consolidate its position in the market.