Natura & Co is set to offload its Avon International business in Europe, Africa and Asia, as it pivots towards an increased focus on its Latin American arm.
The business segment has been sold to private equity firm Regent, although the transaction is still subject to customary conditions.
Avon Russia is not included in this agreement and remains classified as “held for sale”.
The sale of Avon International does not affect the company’s operations in Latin America, according to the business, which remains at the core of Natura’s strategic priorities.
“This agreement represents the final steps of the simplification journey initiated three years ago, focused on the growth of our operations in Latin America,” said Fábio Barbosa, Chairman of Natura’s Board of Directors.
“Avon International has already been implementing a robust transformation agenda, and we believe this journey will be strengthened, resuming sustainable growth of this iconic brand that has transformed the global beauty market over the past 139 years.”
Natura & co commenced its ‘corporate simplification cycle’ in 2022.
“There are very few companies that have touched as many lives as Avon,” added Michael Reinstein, Chairman of Regent.
“Since its founding in 1886, Avon has built a global community and reshaped how beauty connects with people everywhere.
“The Avon Lady was the original influencer, pioneering social commerce long before the world had a name for it.
“We are honoured to support the millions of Avon representatives as we carry forward the heritage of this legendary brand.”
The sale of Avon’s International business follows Natura & Co inking a deal to sell its Avon business in Central America and the Dominican Republic earlier this week.
Grupo PDC, a consumer goods company with a presence in the region and Peru, is set to acquire the direct-selling beauty business for US$22m.