TIDMPZC

RNS Number : 5332G

PZ CUSSONS PLC

18 March 2020

18 March 2020

PZ Cussons Plc

("PZ Cussons" or the "Group")

Proposed sale of Nutricima and completion of Luksja sale

PZ Cussons Plc, a leading consumer products group, is pleased to announce further progress in respect of its Focus, Scale and Accelerate strategy with the proposed sale of its Nigerian dairy business Nutricima and completion of the previously announced sale of its Polish personal care brand Luksja.

PZ Cussons has exchanged contracts for the sale of the assets associated with Nutricima's business to FrieslandCampina WAMCO Nigeria Plc, an affiliate of Royal FrieslandCampina in the Netherlands. Under Nigerian law, completion of the transaction is subject to merger clearance in Nigeria.

In addition, PZ Cussons has completed the sale of its Polish personal care brand, Luksja, to Athens based personal care company, Sarantis Group. Sarantis will also distribute certain PZ Cussons' brands (which include Carex, Original Source and Morning Fresh) in Poland and Central and Eastern Europe.

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."

Ends

Press enquiries

 
 PZ Cussons 
  Alan Bergin (Interim Chief Financial 
  Officer)                                0161 435 1236 
 Instinctif 
  Tim Linacre / Guy Scarborough           020 7457 2020 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DISKKOBKFBKDNND

(END) Dow Jones Newswires

March 18, 2020 03:00 ET (07:00 GMT)

Pz Cussons (LSE:PZC)
Gráfica de Acción Histórica
De Ago 2020 a Sep 2020 Haga Click aquí para más Gráficas Pz Cussons.
Pz Cussons (LSE:PZC)
Gráfica de Acción Histórica
De Sep 2019 a Sep 2020 Haga Click aquí para más Gráficas Pz Cussons.