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The global fashion business journal

Jan 24, 20208:39pm

Natura closes Avon merger

The company sealed the deal with a board meeting today, it says in a feeling. Avon shareholders own 27.3% of the combined company’s capital.

Jan 4, 2020 — 7:15pm
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Natura confirms closing Avon merger. The Brazilian beauty giant, that also owns The Body Shop and Aesop, has confirmed the closing of its merger with the American company, it said in a filing today.

 

The company sealed the deal with a board meeting today. The agreement includes that Avon shareholders will own 27.3% of the combined company’s capital. The Latin American group has also confirmed its capital increased, issuing 326 million common shares for 10.38 billion reais.

 

The group has also rearranged its management team. Avon CEO Jan Zijderveld will step down and Angela Cretu will take the role. Roberto Marques will become new CEO of the group. Also, Roberto Marques is taking on the role of chief executive officer of the newly-created company.

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