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Godrej Consumer sells its UK unit

Friday, August 31, 2018, 15:49
This news item was posted in Business category and has 0 Comments so far.

Godrej Consumer Products has sold its UK unit to JZ International, a pan-European private investment business based in London. The divestment of Godrej Consumer Products UK is part of the company’s strategy to focus on emerging markets – Asia, Africa and Latin America.The company said it is in line with its long-term objective of optimising portfolio and making the relevant capital allocation choices. “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 three categories – home care, hair care and personal care in three geographies,” Nisaba Godrej, Executive Chairperson, GCPL, said in a statement.Godrej UK was its first international acquisition way back in 2005 and had a portfolio of brands such as Touch of Silver, Cuticura and Soft & Gentle. A decade ago, UK business accounted for nearly 15% of its sales, which over the years has come down to 5% last fiscal.

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