PZ CUSSONS PLC Sale of Nutricima and completion of Luksja sale (5332G)
18 Marzo 2020 - 1:00AM
UK Regulatory
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
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END
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