Natura &Co's Avon acquisition gets the go-ahead

Brazilian cosmetics group Natura &Co has received all regulatory approvals required to complete its acquisition of Avon Products, paving the way for the closing of the transaction expected on January 3, 2020.

Credit: Natura &Co

The Avon deal makes Natura the world's fourth-largest pure-play beauty company by revenue, grouping together Avon, Natura, Aesop and The Body Shop, which Natura acquired from L'Oréal in 2017.

After the acquisition, Natura will control 76% of Avon, while the remaining 24% will remain in the hands of the shareholders of the American direct selling company.

Roberto Marques, executive chairman of Natura &Co Holding, said: "With all regulatory approvals, we are very close to completing the acquisition of Avon. We greatly look forward to welcoming Avon to our family of iconic beauty companies, starting a new chapter in Natura &Co's history."

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Founded in 1969, Natura is present in 73 countries across all continents. It's the largest Brazilian multinational brand in the cosmetics and personal care sector by revenue, and the leader in direct sales. Natura is a founding member of the Union for Ethical BioTrade, gradually ensuring that its sourcing practices promote the conservation of biodiversity, respect traditional knowledge and assure the equitable sharing of benefits along the supply chain.