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MUMBAI: Godrej Consumer Products (GCPL) has divested its entire stake in its UK business, Godrej Consumer Products UK, to JZ International, a leading pan-European private investment business based in London.
The divestment of what was GCPL’s first global acquisition is on expected lines. Acquired in 2005, Godrej UK has over the years created a strong personal care business with leading brands such as Touch of Silver, Cuticura and Soft & Gentle. However, it did not fit with the company’s overarching global growth philosophy. GCPL could also not leverage brand Cuticura in India as it failed to get marketing rights to do so from its owner here, Cholayil.
GCPL executive chairperson Nisaba Godrej said, “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 — focused on three categories (home care, hair care and personal care), in three 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 optimising our portfolio and making the appropriate capital allocation choices to drive superior value creation.”
Godrej UK, which was the erstwhile Keyline Brands, had adopted a strategy to selectively bolt on brands that are strategic, financially accretive and provide significant synergies.
In a statement, JZ International senior partner Martin Wright said, “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... We look to continue growing the business, both organically in the UK and overseas and through acquisition.”
The divestment of what was GCPL’s first global acquisition is on expected lines. Acquired in 2005, Godrej UK has over the years created a strong personal care business with leading brands such as Touch of Silver, Cuticura and Soft & Gentle. However, it did not fit with the company’s overarching global growth philosophy. GCPL could also not leverage brand Cuticura in India as it failed to get marketing rights to do so from its owner here, Cholayil.
GCPL executive chairperson Nisaba Godrej said, “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 — focused on three categories (home care, hair care and personal care), in three 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 optimising our portfolio and making the appropriate capital allocation choices to drive superior value creation.”
Godrej UK, which was the erstwhile Keyline Brands, had adopted a strategy to selectively bolt on brands that are strategic, financially accretive and provide significant synergies.
In a statement, JZ International senior partner Martin Wright said, “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... We look to continue growing the business, both organically in the UK and overseas and through acquisition.”
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