Mumbai-based 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.
Nisaba Godrej, Executive Chairperson, GCPL, said in a statement, 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', and focused on three categories - home care, hair care and personal care in three geographies.”
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 per cent of its sales, which over the years has come down to 5 per cent last fiscal.