Godrej Consumer Products Limited (GCPL) has announced its divestment of its entire stake in Godrej Consumer Products UK Limited, its United Kingdom business, to JZ International.
JZ International is a pan-European private investment business based in London.
Nisaba Godrej, executive chairperson of GCPL, commented: “We continue to make strong progress on our journey to be a leading FMCG player in emerging markets; guided by our 3 by 3 approach, and focused on 3 categories (home care, hair care and personal care), in 3 geographies (Asia, Africa and Latin America).
As we build on our presence in these emerging markets and sharpen our strategic focus, we have decided to divest our UK business. This is in line with our long-term objective of continually optimizing our portfolio and making the appropriate capital allocation choices to drive superior value creation.
Godrej UK was our first international acquisition back in 2005 and over the years, our team has created a strong personal care business with leading brands such as Touch of Silver, Cuticura and Soft & Gentle. We would like to take this opportunity to wish JZ International the very best as they lead the business into its next phase of growth.”
Added Martin Wright, senior partner, JZ International: “We are delighted to announce the acquisition of Godrej UK from Godrej Consumer Products and we look forward to working with the talented UK management team. The company has an exciting portfolio of unique and dynamic brands focused in the personal care sector and well recognized in both UK and international markets. The company has experienced impressive growth under the ownership of Godrej Consumer Products and we look to continue growing the business both organically in the UK and overseas and through acquisition.”