Brazilian beauty products company Natura has purchased control of global rival Avon in a transaction involving an exchange of shares, Natura said in a statement to investors. The transaction was valued at approximately $3.7 billion, according to financial market sources. It covers all of Avon’s international holdings but excludes Avon’s U.S. subsidiary. Market analysts said the combined companies will constitute the world’s number four provider of beauty products and services, behind L’Oréal, Estée Lauder and Shiseido. The purchase caps a campaign by Natura to expand its international holdings, which include The Body Shop and other global brands.
Link to Natura statement.More Testimonials