"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), explained Nisaba Godrej, executive chairperson, GCPL. "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 optimising our portfolio and making the appropriate capital allocation choices to drive superior value creation."
He noted that Godrej UK was the company's first international acquisition back in 2005 and over the years it created a strong personal care business with leading brands such as Touch of Silver, Cuticura and Soft & Gentle.
"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," said Martin Wright, senior partner, JZ International. "The company has an exciting portfolio of unique and dynamic brands focused in the personal care sector and well recognised 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."