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Marico sells Sweekar to Cargill in brand restructuring plan

MUMBAI: The Marico Group is restructuring its brands basket. As part of its plans to focus on beauty and wellness, the FMCG major has sold its refined sunflower oil brand ‘Sweekar‘ to food and agricultural products company Cargill India for an undisclosed amount.


Under the deal, the trademark and copyrights of Sweekar will be transferred to Cargill with immediate effect.
 
Marico will, instead, concentrate on Saffola as its wellness platform vehicle in the refined edible oils and health foods space.


Said Marico consumer products business CEO Saugata Gupta, “In our focused journey of sustainable profitable growth, we recognised that Sweekar has limited fitment in Marico’s portfolio.However, with its legacy of a loyal franchise spanning two decades and the consumer connect that it commands, we believe it would be of value to Cargill, who can sustain and nurture it as a leading brand.”
 
Added Marico chief finance, HR and strategy Milind Sarwate: "This divestment is a logical sub-set of a portfolio strategy aimed at sustainable profitable growth."
 
Cargill produces and markets sunflower oil locally under its NatureFresh and Gemini brands.

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