PZ Cussons, a leading consumer products group, has announced the sale of its Polish care brand Luksja and its plans to sell its Nigerian dairy business Nutricima.
The Greek personal care company, Sarantis Group, was the buyer of Luksja. The group will also distribute some PZ Cussons brands in Central and Eastern Europe.
Nutricima is planned to be sold to an affiliate of Royal FrieslandCampina in the Netherlands, where the completion of the transaction is subject to merger clearance under Nigerian law.
Caroline Silver, executive chair of PZ Cussons, said: “The proposed sale of Nutricima and the sale of Luksja are further steps forward under our ‘Focus, Scale and Accelerate’ strategy, as we continue to streamline the group to focus investment on core personal care and beauty brands. This will enable us to deliver higher margin earnings, in geographies which can scale, and support the return of the Group to sustainable, profitable growth”.
Sources: PZ Cussons