Deals
Natura to Buy Avon Products for About $2 Billion in Stock
- Controlling holders of Natura to form a new public company
- Combined company will have more than 6 million direct sellers
A Natura Cosmeticos store inside the Santos Dumont Airport in Rio de Janeiro.
Photographer: Dado Galdieri/BloombergThis article is for subscribers only.
Brazil’s Natura Cosmeticos SA agreed to buy rival Avon Products Inc. in an all-stock deal valued at about $2 billion, positioning it as a growing force in the booming global cosmetics and skincare industry.
Controlling shareholders of Natura, which bought the Body Shop retail chain in 2017, will form a new publicly traded holding company that will offer 0.3 share for every share of London-based Avon, according to a statement. Holders of preferred Avon shares will get $530 million in cash assuming the deal closes in early 2020.