As part of a strategy to focus on power brands, Hindustan Lever Ltd is to dispose of its Glucovita brand to Wipro Ltd for an undisclosed sum.
The FMCG major said it entered into a "definitive agreement" on Wednesday with Wipro for the sale and transfer of Glucovita, a brand in the glucose market, for the territories of India and Nepal.
The transaction is expected to be completed by June this year, and the sale is part of the ongoing brand rationalisation exercise in HLL, the company said in a statement on Thursday.
