Avon to be acquired by Brazil's Natura for £1.6bn
In 2016, the company said it was moving its headquarters from New York to the UK"over time" while cutting 2,500 jobs worldwide as part of a turnaround plan.In April, LG Household & Health Care agreed to acquire both Avon and Cerberus' stakes in the US business.
According to analysts at Brasil Plural, Natura is"pursuing the goal of becoming a global brand", but warned it would need to significantly invest in Avon's operations in Brazil.Natura has a similar business model and many Avon representatives in Brazil also sell Natura products too.in a deal believed to be worth 1bn euros from French beauty group L'Oreal in 2017.
Since then, Natura has been trying to turn The Body Shop around, which has suffered from increased competition and a difficult retail environment. L'Oreal bought the business for around €940m in 2006 at the height of its success but it has failed to thrive since.
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