Avon acquires Liz Earle in cash deal
Avon Products has announced the acquisition of naturally positioned UK skin care company Liz Earle in a 100% all-cash deal. The privately held brand will become part of Avon’s global skin care portfolio but Liz Earle Naturally Active Skincare will continue to be managed independently as a standalone brand under the leadership of co-founders Liz Earle and Kim Buckland, maintaining its headquarters on the Isle of Wight in the UK
Liz Earle products are sold primarily through direct-to-consumer channels and Avon says the acquisition is consistent with its previously stated intention to explore opportunities that would complement its core beauty direct selling business.
"We are delighted to welcome Liz Earle Naturally Active Skincare to Avon, and we see this new partnership as a perfect fit for both companies,” commented Andrea Jung, Avon's chairman and ceo. “Liz Earle's tightly edited range of award winning, Naturally Active Skincare products is highly complementary to Avon's anti-ageing skin care and broader beauty portfolio. It also represents a long-term opportunity to develop a standalone Liz Earle direct selling Representative channel."
Liz Earle added: "We are very excited to be aligning with an iconic global beauty brand like Avon. We believe that the Liz Earle Naturally Active Skincare philosophy and extraordinary brand loyalty we have built in the UK, when combined with Avon's presence in more than 100 markets around the world, offers an outstanding opportunity for global expansion for our company."
The Liz Earle Beauty Co was founded 15 years ago. Financial terms of the acquisition have not been disclosed.
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