William Ransom announces sale of Manuka Gold

William Ransom, provider of pharmacy products, has announced that it plans to sell its brand Manuka Gold.

The company will sell Manuka Gold, which generated annual sales of 300,000 pounds for the year ended March 2009, for the total cash consideration of 500,600 pounds.

It gross margin of approximately 150,000 pounds during the same 12-month period represents significant drops due to a changing distribution channel mix, according to the company.

Ivor Harrison, chief executive of the organisation, said that the board considers this move to be in the best interests of both the firm and its shareholders.

He continued: “The divestment releases significant working capital and is consistent with the company’s strategy of creating a focused, higher margin, differentiated natural consumer healthcare business.”

This news comes after William Ransom revealed last month that it has also sold its Metanium brand to Thornton and Ross.

The brand is comprised of products such as Metanium nappy rash ointment and Metanium cradle cap cream.