PZ Cussons (LSE:PZC) shares fell 2% to 74p after the company said it has decided not to sell its St. Tropez self-tanning brand, but instead set a "new strategic direction", bolstered by a partnership with US partner Emerson Group.
A specialist in partnering with brand owners, Emerson will provide customer management, logistics services and brand activation in the US.
St. Tropez will become one of the products pushed to US retailers by Emerson's selling teams, which Cussons said builds on an existing relationship with Emerson as the distributor of Childs Farm in the US.
"The board is confident that this partnership will return St. Tropez to growth in the US, combining Emerson's distribution reach and brand activation capabilities, with the brand equity of St. Tropez."
Cussons said it had run an "extensive" auction process that resulted in a number of offers being received, though none seemed to prove acceptable after the brand's revenue decline in the US and a wider contraction of valuations seen in the beauty sector.