The Brazilian group Natura & Co, which besides the namesake brand also includes The Body Shop and Aesop, announced on Friday (3) the conclusion of the purchase of the American Avon Products. With the acquisition, the Brazilian company creates the fourth largest beauty and wellness in the world.
In a statement to investors, the company translated this achievement into a few numbers: 6.3 million beauty consultants and sellers; more than 3,000 physical stores; combined gross revenues of more than $ 10 billion; in addition to over 40,000 employees and associates, and a global presence in over 100 countries.
With the acquisition, the Natura & Co group was organized into four business units:
- Natura & Co Latin America, which includes the brands Natura, Avon, The Body Shop in Latin America and Aesop in Brazil, and will have João Paulo Ferreira, former CEO at Natura, as its CEO;
- Avon, which will encompass the entire brand operation in Europe, Africa, the Middle East and Asia (excluding Latin America), and will have Angela Cretu as CEO;
- The Body Shop, whose CEO David Boynton will remain the same;
- And Aesop, who will also hold Michael O’Keeffe as CEO.
Also this Friday (3) Jan Zijderveld left Avon, being replaced by the executive chairman of Natura & Co Roberto Marques.
Natura’s announcement of the deal with Avon came in the first half of 2019. It was made possible through a stock exchange that valued the US company at $2 billion. The approval of the regulatory authorities for the deal was given in December last year. At the time, Natura & Co informed that the conclusion of the deal would happen this Friday (3).