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EN
Natura Reaches Deal to Sell Avon’s Central American Operations
['Rachael Griffiths']
The Business of Fashion
Brazilian cosmetics group Natura has reached an agreement to sell Avon CARD, the collective name for the beauty label’s operations in Central American and the Dominican Republic, to consumer goods company Grupo PDC, the companies announced on Monday.
The purchase price was $1, followed by a payment of $22 million to be received upon closing.
Natura previously classified Avon International as “held for sale” in August.
As per the deal, Natura will act as both the licensor and supplier of finished products for Avon within Central America and the Dominican Republic.
Natura and Avon’s ongoing operations within Latin America will not be affected.
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