Skip to content
Search

Latest Stories

India’s Godrej Consumer Sells UK Business to JZ International for £34 Million

India’s consumer goods company, Godrej Consumer Products Ltd (GCPL) sold its UK business, Godrej Consumer Products UK Limited to JZ International Ltd for £34 million as part of its efforts to focus more on Asian, African, and Latin American counties.

JZ International is a leading pan-European private investment business headquartered in London and the agreement between the two parties will come into force with immediate effect.


Godrej UK was the company's first ever international purchase in 2005, and had brands such as Touch of Silver, Cuticura, and others. Godrej Consumer Products UK Limited contributed five per cent of its parent company’s £1073.63m net sales in the last financial year while global operations as a whole accounted for 47 per cent of the sales.

Commenting on this announcement, Nisaba Godrej, Executive Chairperson, GCPL, 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 (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,” he added.

More For You

London business district
A general view shows the London's financial district from an office window in Canary Wharf. (Photo: Getty Images)

Economy grows 0.1 per cent in fourth quarter, defying expectations

THE UK economy expanded by 0.1 per cent in the final quarter of 2024, contrary to forecasts of a contraction, according to official data released on Thursday.

The growth, supported by a stronger-than-expected 0.4 per cent rise in December, offers some relief to chancellor Rachel Reeves as she navigates broader economic challenges.

Keep ReadingShow less
BP-Reuters

Fourth-quarter profit dropped 61 per cent compared to the previous year, marking BP’s weakest results since Q4 2020, when the pandemic reduced global oil demand. (Photo: Reuters)

BP reports lowest quarterly profit in four years, plans strategy reset

BP reported a quarterly profit of £943 million on Tuesday, falling short of expectations and marking its lowest in four years.

The company said it plans a "fundamental reset" of its strategy, days after reports that Elliott Management had taken a stake in the oil major.

Keep ReadingShow less
Shein-Reuters

Shein had aimed to go public in London in the first half of this year, subject to regulatory approvals in the UK and China. (Photo: Reuters)

Shein cuts valuation to £40 billion for London listing

SHEIN is preparing to lower its valuation to around £40 billion for a potential initial public offering (IPO) in London, according to three Reuters sources familiar with the matter.

This is nearly 25 per cent lower than the company's 2023 fundraising valuation as it faces increasing challenges.

Keep ReadingShow less
Northern-Superchargers-Getty

Ben Stokes and Matthew Short of Northern Superchargers walk out to bat during The Hundred match between Manchester Originals and Northern Superchargers on August 11, 2024 in Manchester, England. (Photo: Getty Images)

Sunrisers Hyderabad to acquire Northern Superchargers in £100 million deal

INDIAN Premier League franchise Sunrisers Hyderabad is set to become the first full owners of an English Hundred team after agreeing to buy Yorkshire’s Northern Superchargers for a reported £100 million.

The Sun Group will be the third IPL-linked investor in the eight-team Hundred competition, following Reliance Industries, which owns Mumbai Indians, and RPSG, which runs Lucknow Super Giants.

Keep ReadingShow less
BT-Getty

A view of the British Telecom (BT) headquarters in central London. (Photo: Getty Images)

BT to remove diversity targets from manager bonuses

BT will remove diversity, equity, and inclusion (DEI) targets from its manager bonus scheme, replacing them with a measure of overall employee engagement.

The change, set to take effect in April, follows consultation with major investors and has received “strong support,” according to the company, The Telegraph reported.

Keep ReadingShow less