You may recall our communication in the middle of August 2019 that PZ Cussons exchanged contracts for the sale of its Polish personal care brand Luksja to Sarantis (“Sale Transaction”). At the same time, PZ Cussons and Sarantis entered into a distribution agreement whereby Sarantis would distribute certain PZ Cussons’ brands (which include Carex, Original Source and Morning Fresh) in Poland and Central and Eastern Europe (“Distribution Agreement”). You may also recall that completion of the Sale Transaction was subject to approval being granted by the Antitrust Authorities in relevant territories, including Poland.
We would like to inform you that as of today, the 24th of February, 2020, all the antitrust clearance approvals required have been received. Thus, it is intended that the parties complete the Sale Transaction and commence the Distribution Agreement on the 28th of February, 2020.
Following the Transaction completion the only company responsible for selling and distributing those Brands in Poland and Central and Eastern Europe will be Sarantis.
Luksja is one of the most recognized and established personal wash brands with over 30 years of tradition on Polish market. Established in 1989, Luksja became one of the most trusted brands for generations of Poles. Its portfolio includes well-known and recognizable products in the shower gel, bath foams, hand washes, and bar soaps categories. All products are characterized by unique fragrances - created by top-class specialists from the perfumery house as well as high-quality ingredients and carefully developed, caring formulations. No wonder that Luksja became the #1 brand in the quantitative sales of body wash cosmetics in Poland. The quality of Luksja products has also been repeatedly confirmed by numerous prestigious awards – both from the Polish commerce and the consumer themselves.Sarantis Group obtains the antitrust clearance approvals required for Luksja (212.3KB)