Avon
September 18, 2025
SAO PAULO, Brazil -- September 18, 2025
Natura Cosmeticos said it entered into a binding agreement on September 17, 2025, to sell Avon International, its Avon business in Europe, Africa and Asia, to an acquisition vehicle affiliated with Regent. The deal covers Natura &Co UK Holdings Limited, the holding company of the Avon International business. It does not include Avon's Russian operation, which remains classified as held for sale, or the Avon brand and operations in Latin America, which stay with Natura.
Natura will receive a nominal 1 pound at closing plus rights to earn-outs and other contingent payments tied to the business's future results and certain liquidity events, capped at 60 million pounds. Most of the loans Natura holds against Avon International will be capitalized before closing, with the remainder transferred to the buyer for no consideration once agreed post-closing conditions are met. Natura also agreed to provide Avon International a secured credit facility of up to 25 million dollars with a five-year maturity, available to be drawn within one year after closing subject to conditions.
Closing is subject to conditions including regulatory approvals, which are expected in the first quarter of 2026. Natura said it continues to explore strategic alternatives for Avon Russia, and that the sale, together with the Avon Central America deal announced September 15, moves it toward completing the corporate simplification cycle it began in 2022 to focus on Latin America.
"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 Fabio Barbosa, chairman of Natura's board. Regent Chairman Michael Reinstein said, "We are honored to support the millions of Avon representatives as we carry forward the heritage of this legendary brand." Natura Chief Executive Joao Paulo Ferreira said the integration of Avon and Natura in Latin America, to be completed by year-end, is already delivering significant efficiency gains.