PZ Cussons decided to keep its Africa operations after getting offers from buyers who wanted the whole thing. The consumer goods company is betting on population growth across the continent and plans to expand its brands like Imperial Leather, Venus, and Premier into men's grooming and beauty categories while pushing into new African markets from its Nigeria and Kenya bases.
The firm dumped its edible oils joint venture for $70 million but is holding onto family care and electricals businesses that pulled in £141 million in revenue last year. Nearly 80 percent of sales in Nigeria come from brands that rank first or second in their categories, and the company has more than doubled its direct store coverage since 2022.
Africa accounts for about 27 percent of total group revenue, and executives think the emerging market opportunity beats whatever cash they could have scored from selling out, especially with Nigeria's population expected to jump by over 100 million people.
The firm dumped its edible oils joint venture for $70 million but is holding onto family care and electricals businesses that pulled in £141 million in revenue last year. Nearly 80 percent of sales in Nigeria come from brands that rank first or second in their categories, and the company has more than doubled its direct store coverage since 2022.
Africa accounts for about 27 percent of total group revenue, and executives think the emerging market opportunity beats whatever cash they could have scored from selling out, especially with Nigeria's population expected to jump by over 100 million people.
