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HAVANA TIMES – The Brazilian cosmetics company Natura is acquiring London-based Avon, creating a direct-to-consumer global beauty giant, Natura said earlier in the week.
The transaction values Avon at an enterprise value of 3.7 billion dollars and the combined group would have an enterprise value of approximately 11 billion dollars, according to the statement.
The merged company will have more than 6.3 million consultants and representatives, as well as 3,200 stores, with a presence in 100 countries, Natura said.
The purchase of 133-year-old Avon will thus expand the global reach of Natura, which is best known in Latin America. The Brazilian giant acquired the Body Shop in 2017.
Founded in the United States, Avon was a pioneer of the door-to-door cosmetics sales model, but has struggled recently.
Shareholders of both companies still need to approve the deal.