PZ Cussons finds buyer for Nutricima and completes on Luksja sale

PZ Cussons finds buyer for Nutricima and completes on Luksja sale

THE WHAT? PZ Cussons has announced that it has made progress in the sale of Nigerian dairy business, Nutricima.

THE DETAILS The company has exchanged contracts for the sale of the assets associated with Nutricima’s business to FreislandCampina WAMCO Nigeria. Completion of the transaction is subject to merger clearance in Nigeria.

PZ Cussons also revealed that it has completed on the sale of Polish personal care brand Luksja to Athens-based Sarantis.

THE WHY? Caroline Silver, Executive Chair of PZ Cussons, explained, “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.”

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