Agro Tech Foods sells Rath vanaspathi to Cargil India
12 Nov 2010
Gurgaon: Agro Tech Foods, an affiliate of US branded foods company ConAgra Foods, today said that it would sell its vanaspati brand Rath to Cargill India.
Agro Tech plans to increase its focus on value-added processed foods.
The divestiture, for an undisclosed sum, is limited to the Rath brand.
Agro Tech owns refined sunflower oil brand Crystal, premium refined edible oil brands Sundrop and Superlite, soyabean and sunflower oil blend NutraLite, sunflower and refined corn oil blend GoldLite and canola and sunflower oil blend FreshLite, Act II popcorn and Sundrop peanut butter and Snack Break Pudding.
Announcing the sale, Sachin Gopal, president and CEO of Agro Tech Foods said, ''The sale of Rath is consistent with the company continuing to sharpen its focus on value added products. Though Rath is a strong brand in vanspati, with excellent reach and a loyal consumer base, the category does not fit into the company's longer term strategic focus.''
''The processed foods industry in India has tremendous potential and by leading the development of new categories such as Popcorn and Peanut Butter our company is in the forefront of this change'', he added.
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