admin On Friday, Natura &Co has announced that it has closed on its acquisition of Avon Products and appointed a new senior leadership team to drive the company’s next phase of growth.
Executive Chairman of the Board of Directors for Natura &Co, Roberto Marques, has been named Group CEO of the expanded group. CEO of Avon Products Jan Zijderveld will step down from his role and Angela Cretu who most recently served as general manager of its Central Europe division has been named CEO of Avon in his stead while Joao Paulo Ferreira will assume the role of CEO Latin America of Natura &Co.
Four years ago, Marques joined Natura’s board and lead a global expansion that included the acquisition of The Body Shop in 2017.
Through a share swap, Natura agreed to buy Avon in 2019 that valued the over 130-year-old company’s equity at around $2 billion.
Zijderveld said, “The combination of Avon with Natura &Co is a transformational event and the right moment for Avon to start its next growth phase. I will leave Avon with a feeling of pride for what we have accomplished together with the company’s talented and passionate people and teams.”
The combination of Avon, Natura, The Body Shop and Aesop creates the world’s fourth-largest pure-play beauty company and marks a major new step in building a purpose-driven group committed to a different way of doing business significantly amplifying the reach of a multi-brand, multi-channel group that will be an unparalleled leader in the D2C space. Co-founder of Natura, Luiz Seabra said, “Natura has just finished celebrating its 50th anniversary, and there could be no better way to open this next chapter in our history than to welcome Avon into our family. We are united by a shared vision and a passion for beauty and relationships, and together, we will be an even stronger force for good, striving to build a fairer and more beautiful world.”
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