PZ Cussons to sell St. Tropez
The Manchester-based beauty and personal care business is set to sell pioneering self-tan brand, St. Tropez.
In its third quarter trading update, PZ Cussons noted that St. Tropez had grown significantly since it had acquired the brand and had established a leading position in the US self-tan market.
In a statement the business noted that despite the long-term growth potential in the US, “this growth will be harder to realise under PZ Cussons’ ownership, given the need to allocate resources across our diverse geographic and category footprint. We therefore plan to realise shareholder value by initiating a process to sell the brand to an owner better placed to capture the brand’s significant long-term potential.”