Personal care products producer Godrej Consumer Products Ltd. said Aug. 31 that it sold its U.K. subsidiary to London-based private equity firm JZ International Ltd.
Financial terms of the deal were not disclosed.
Godrej Consumer Products (UK) Ltd, formerly known as Keyline Brands Ltd, was acquired by the Indian company in 2005 and was its first international acquisition. It owns leading brands such as Touch of Silver, Cuticura and Soft & Gentle.
"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," GCPL Executive Chairperson Nisaba Godrej said.
Godrej added that the company continues to be focused on the categories of home care, hair care and personal care in Asia, Africa and Latin America.