PZ Cussons

Last updated

PZ Cussons plc
Company typePublic Company
Industry
Founded20 February 1884;140 years ago (1884-02-20)
FoundersGeorge Paterson
George Zochonis
Headquarters Manchester, England
Key people
Caroline Silver (Chair)
Jonathan Myers (CEO)
Products
RevenueIncrease2.svg £656.3 million (2023) [1]
Increase2.svg £73.3 million (2023) [1]
Decrease2.svg £46.4 million (2023) [1]
Number of employees
2,672 (2023) [1]
Website www.pzcussons.com

PZ Cussons plc is a major British manufacturer of personal healthcare products and consumer goods. It operates worldwide, especially in nations in Africa and the Commonwealth. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Contents

History

An Imperial Leather soap bar (2016) Imperial Leather soap bar.jpg
An Imperial Leather soap bar (2016)

Paterson Zochonis (PZ) (1884–1929)

The company was formed by George Zochonis and George Paterson as a commodity trading business in the Sierra Leone Colony and Protectorate under the name Paterson Zochonis (PZ) in 1884. [2] It expanded its operations into what is now Nigeria before the end of the nineteenth century. [2]

PZ (1929–1951)

Paterson Zochonis expanded considerably under Constantine Zochonis between 1929 and 1951, [3] [4] when as chairman he acquired factories and established offices in Ghana and Kenya. [5] Under the management of C.P. Zochonis, PZ invested in its host countries by opening factories and shops there. [6] In 1948 PZ took over a Nigerian soap manufacturer. [7] "This proved to be a landmark in the company's history, as soap was to become a major part of its trade". [4] However, under the management of C.P. Zochonis, the company allowed colonial attitudes to affect local African peoples. [8] [9] [10]

PZ and PZ Cussons (1951–2006)

From 1951, Alexander Loupos, cousin of Constantine Zochonis, took over PZ as chairman. John Zochonis became chairman in the 1970s. [11] Paterson Zochonis continued to expand under John Zochonis, [3] [4] It was one of three or four firms which commercially dominated Guinea as a colony before 1958. [5]

The company acquired Cussons Group (founded by Thomas Cussons) from the Cussons family in 1975. [2] Offices and factories were established in Thailand and Indonesia in 1986 and 1988 respectively. [12]

The company bought the state owned Pollena Wroclaw in Poland in 1993, followed in 1995 by Pollena Uroda, and in 2002, Paterson Zochonis plc was renamed PZ Cussons plc. [2] PZ Cussons sold the brand 1001 Carpet Cleaner in February 2004 to the American WD40 Company for £6.2 million. [13] PZ Cussons closed its factory in Nottingham in February 2005 (founded by Gerard Bros.) and relocated the operations to Thailand. [14] [15]

PZ (from 2006)

PZ Cussons announced new plans in August 2006 to move its remaining factory in England from Kersal to Swinton, both in the City of Salford. [16]

PZ Cussons acquired the Sanctuary Spa and Sanctuary products business in January 2008 for £75 million. [17] Alex Kanellis, who had been chief executive officer since June 2006, stepped down from that position in December 2019. The company announced that Jonathan Myers would be the new chief executive officer effective from 1 May 2020. [18]

Operations

PZ Cussons Group has a marketing presence in Europe, Africa and Asia. [19]

PZ Cussons until recently had factories in Salford, Nigeria, Thailand, Indonesia, Australia, Greece, Kenya, and Poland. The factories in Greece and Poland, together with local commercial operations were sold in the summer of 2012 as part of an initiative to focus on core business. [20]

PZ Cussons' main brand is the Imperial Leather range of soaps, bath and shower and cosmetic products. [21] PZ Cussons operates a joint venture electrical superstore, Haier Thermocool, in Lagos, Nigeria and also operates in Ghana. [22] The largest single market for PZ Cussons is Nigeria. This is served by the subsidiary company PZ Cussons Nigeria Plc, which employs over 3,500 people and is listed on the Nigerian Stock Exchange. [23]

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References

  1. 1 2 3 4 "Annual Report 2023" (PDF). PZ Cussons. Retrieved 13 February 2024.
  2. 1 2 3 4 "PZ Cussons: Our History". 15 February 2022. Retrieved 15 February 2022.
  3. 1 2 Jeremy, David J. (1 January 2017). "Zochonis, Sir John Basil" . Oxford Dictionary of National Biography (online ed.). Oxford University Press. doi:10.1093/ref:odnb/108350. ISBN   978-0-19-861412-8 . Retrieved 12 April 2022.(Subscription or UK public library membership required.)
  4. 1 2 3 "Paterson Zochonis". gracesguide.co.uk. Grace's Guide to British Industrial History. 7 May 2021. Retrieved 12 April 2022.
  5. 1 2 Thomas O'Toole, Historical Dictionary of Guinea, Scarecrow Press, 1978, p. 55
  6. ↑ Crossan, Mary M. (2000). Strategic Management: a Canadian casebook. Canada: Prentice Hall. p. 167. ISBN   9780130836816 . Retrieved 24 May 2022.
  7. ↑ "Paterson, Zochonis & Company Limited" . The Times (London, England). No. 52786. Gale. 23 November 1953. p. 13. Retrieved 14 June 2022.
  8. ↑ Plange, Nii-K. (December 1984). "The colonial state of northern Ghana, the political economy of pacification". Review of African Political Economy. 11 (31, Capital vs. Labour in West Africa): 29–43. doi:10.1080/03056248408703598. JSTOR   4005724.
  9. ↑ Heap, Simon (December 1997). "'Jaguda boys': pickpocketing in Ibadan, 1930-60". Urban History. 24 (3): 324–343. doi:10.1017/S0963926800012384. JSTOR   44614007. S2CID   145130577.
  10. ↑ Adebayo, A.G. (1992). "The production and export of hides and skins in colonial and northern Nigeria 1900-1945". The Journal of African History. 33 (2): 273–300. doi:10.1017/S0021853700032242. JSTOR   183002. S2CID   162461665.
  11. ↑ "Sir John Zochonis". Manchester Evening News. 15 February 2007. Archived from the original on 14 April 2022. Retrieved 12 April 2022.
  12. ↑ "Annual Report 2009" (PDF). PZ Cussons. p. 2. Retrieved 18 February 2022.
  13. ↑ Hall, W. (11 February 2004). "Weak dollar slows down PZ Cussons". Financial Times. London.
  14. ↑ "UK Business Park – B2B Sales Leads & Company News". ukbusinesspark.co.uk. Archived from the original on 26 February 2012. Retrieved 31 March 2015.
  15. ↑ "Cussons closes Nottingham plant". The Guardian. London. 9 February 2005. Retrieved 15 April 2022.
  16. ↑ "Soap maker reveals £15m factory plans". Manchester Evening News. 2 August 2006. Retrieved 17 November 2021.
  17. ↑ "Cussons buys Sanctuary Spa brand for £75m". brandrepublic.com. 30 January 2008. Retrieved 17 November 2021.
  18. ↑ Foy, Simon (12 December 2019). "PZ Cussons boss quits after 13 years as profits slide". The Telegraph. London. Retrieved 17 February 2020.
  19. ↑ "PZ Cussons: Our Markets". pzcussons.com. 15 September 2008. Archived from the original on 15 September 2008. Retrieved 17 November 2021.
  20. ↑ "Profits fail to scrub up at PZ Cussons". The Manufacturer. 24 July 2012. Retrieved 10 April 2016.
  21. ↑ Jones S. 17 November 2001, "Bubbly PZ washes hands of some of its imperial past" Financial Times. London. p. 2.
  22. ↑ "UPDATE 2-PZ Cussons boosted by strong trading in Nigeria". Reuters UK. 29 July 2008. Archived from the original on 19 July 2012. Retrieved 31 March 2015.
  23. ↑ "Nigeria". PZ Cussons. Retrieved 11 January 2021.

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