Brazilian cosmetics manufacturer Natura & Co is studying the possibility of selling the largest part of the international business of its Avon brand, the Financial Times (FT) announced, cited by Reuters and Agerpres.
Natura, which does not own Avon in the United States, is considering an exit strategy from Avon International, including a sale, the FT reported, citing sources who spoke on condition of anonymity.
Avon International operates in Europe, the Middle East, Africa and the Asia-Pacific region. The company did not want to comment on the information.
Natura has grown in recent years through high-profile acquisitions including The Body Shop, Aesop and Avon International, but is now keen to “discipline” and reduce debt to boost profitability.
Last month, it sold The Body Shop to private equity investor Aurelius Group in a deal valued at 207 million pounds ($260.8 million).
In May, the company announced that it would combine the operations of the Natura and Avon brands in Latin America to cut costs and expand the product portfolio.
Source: Hot News
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