Manchester-based soaps and consumer products company PZ Cussons announced on Wednesday the proposed sale of its Nigerian dairy business Nutricima and the 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,” said Cussons.
“Under Nigerian law, completion of the transaction is subject to merger clearance in Nigeria.”
Cussons also said it 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 in Poland and Central and Eastern Europe.
PZ Cussons executive chair Caroline Silver 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.”