BackAgro Tech Foods sells Rath Oil brand to Cargill
Agro Tech Foods sells Rath Oil brand to Cargill
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New Delhi: Agro Tech Foods Ltd, a affiliate of US-based ConAgra Foods, said on Friday it has signed a deal to sell its vegetable oil brand Rath to the India unit of US -based Cargill Inc.
Agro Tech says even though Rath enjoyed a loyal set of consumer base in India, the brand did not fit into the company’s “longer term strategic focus."
"The sale of Rath is consistent with the Company continuing to sharpen its focus on value added products," including peanut butter, Sundrop Edible Oil, ACT II Popcorn, Sachin Gopal, President and CEO of Agro Tech Foods said.
"We are committed to bringing world class products to the Indian consumer and to making the investments which are required to make this happen," he said adding that the company sees a “tremendous potential" in India.
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