PZ Cussons outlines St Tropez growth plan

Following the recent acquisition of St Tropez by PZ Cussons from private equity group LDC for £62.5m (71.4m euro, US$99.4m), the group's chief executive has outlined international growth plans for the sunless tanning product range.

Chief Executive of PZ Cussons, Alex Kanellis, said: "The acquisition of the St Tropez brand represents an excellent strategic opportunity for PZ Cussons and further strengthens our portfolio of 'masstige' brands which includes The Sanctuary.

"We see good growth opportunities, both in the UK and overseas, particularly by linking the strategy to that of The Sanctuary spa brand. Following this acquisition, our balance sheet remains strong, giving us flexibility for further investment opportunities as they arise."

Michelle Feeney, St Tropez's Chief Executive, added: "PZ Cussons offers a synergistic opportunity for growth, particularly in conjunction with The Sanctuary, and will add the scaleability that the brand needs to become a truly international player."

As of the year ending 31 July 2010, St Tropez reported gross assets of £48.1m (54.9m euro, US$76.5m) with revenue at £20.7m (23.6m euro, US$32.9m) and earnings at £7.4m (8.4m euro, US$11.7m).

More than 80 per cent of St Tropez's sales are said to be within the UK, while the US and Australia have been outlined as growth markets for the brand.

Approximately 30 products are available within St Tropez's retail product range, in three core categories - self tan, gradual tan and wash off. Tanning optimising products are also available while all manufacturing is outsourced to third parties. Details: pzcussons.com