Imperial Leather soap maker makes £75m purchase
Imperial Leather soap maker PZ Cussons branched out today with the £75m (€100.9m) purchase of London's Sanctuary Spa business.
The deal will see the household goods group take on the UK's largest day spa at Covent Garden, as well as the Sanctuary line of personal care products.
The Sanctuary business was put up for sale by its private equity owners HgCapital. The firm had a stake in the Spa itself since the mid 1990s, and took over the products business in 2005.
Manchester-based Cussons, whose brands also include Carex handwash and Morning Fresh washing up liquid, said the deal presented an "excellent strategic opportunity" for the group to get into the premium personal care market.
The deal was unveiled as Cussons said profits for the half year to November 30 rose 8% to £32.5m (€43.7m).
