which include exchange of shares. Thus, a group of more than 6.3 million representatives and consultants from Avon and Natura & Co, and 3,200 stores worldwide, who will invoice more than $ 10 billion, according to a company of Brazilian origin, was born.
With the purchase of Avon, Natura & Co. will have more than 40,000 employees and presence in 100 countries worldwide. The Brazilian-based portfolio also includes The Body Shop (English-acquired and acquired in 2017) and Aesop (Australian origin and integrated in the company in 2013).
The statement sent yesterday afternoon shows that after the completion of the new acquisition, Natura and Co. will have access to 200 million consumers around the world "through consultants and representatives, stores, digital platforms and e-commerce channel." All sales channels, in which the company will be present. "
"Natura & Co expects that the combination of companies will generate expected synergies between $ 150 million and $ 250 million a year, some of which will be reinvested to further improve digital and social presence, research and development , brand initiatives and expanding the geographical presence of the group, "adds the text.
Avon, for its part, has a history of more than 130 years and is one of the leading platforms for direct sales of cosmetics in the world. It was founded in New York in 1886 by David H. McConnell, a street vendor who offers fragrances as "extra" to attract female buyers. It has achieved its position on the global beauty market through the form of direct sales.
Two public companies
In 1946 Avon became a public company and in 1964 began trading on the New York Stock Exchange. Natura & Co, in turn, was founded in 1969 by Luiz Seabra with a door-to-door sales model and became public in Sao Paulo in 2004.
At the end of the stock exchange, Natura and Co. shareholders will own 76% of the combined company, and Avon shareholders will have about 24%, the Brazilian company said.
Last year, Natura & Co announced revenues of 13,400 million reactors. The intention of the group is to become one of the leading players in the global beauty market with multi-channel and multi-brand approach.
At the end of the acquisition, the statement said, the board of directors of the combined company will consist of 13 members, three of whom will be appointed by Avon.
Finally, Natura and Co. stresses that the final closure of the operation will be in early 2020. It explains: "The deal continues to be in line with the usual final conditions, including the approval of Natura and Avon shareholders, as well as the the antitrust authorities of Brazil and some other jurisdictions. "