Regent has entered into a definitive agreement with K-beauty brand LG H&H to acquire Avon North America. LG H&H, which acquired Avon North America in 2019 as part of its international growth strategy, stated that selling its interest in The Avon Company (also known as Avon North America) is part of an ongoing global portfolio optimization process.
“After a careful strategic review of our global portfolio, we believe this is the right time to further sharpen LG H&H’s focus on our core global beauty and retail growth priorities,” said Sunjoo Lee, LG H&H CEO. “By entrusting Avon North America to Regent, we believe this move will create a more unified and connected Avon business. At the same time, it allows LG H&H to focus on the K-beauty and wellness brands where our expertise lies for growth and better serves customers around the world.”
Regent already owns Avon’s international operations across Europe, Asia, Africa and the Middle East, which it acquired from Natura &Co in January. With this acquisition, Avon North America and Avon International will be reunited under common ownership for the first time in a decade.
“Avon has touched lives for 140 years because it has always stood for opportunity, independence and human connection,” said Michael A. Reinstein, Regent Founder, Chairman and Chief Executive Officer. “America is where Avon began and central to where Avon goes next. As Avon’s largest market, it will play a defining role in the next chapter of the brand. Bringing Avon North America and Avon International back together gives Avon clearer ownership, a shared strategy and a stronger foundation for growth. It also creates a more connected opportunity for the Representatives and Ambassadors who carry this brand every day. Our job now is to put the scale of the combined business behind better products, sharper execution and a stronger earning opportunity for the people who sell them.”
Lisa Siders, incoming Avon CEO, stated that bringing the businesses back together provides the opportunity to “build a more focused, connected and ambitious business” for its team and customers.
“My priority is to strengthen the business for its next phase of growth: better products, sharper execution, stronger market connection and a brand experience that earns loyalty every day,” Siders said. “Avon has always been built through people, trust and opportunity. That will remain at the center of how we grow.”
Sun Moon, current CEO of Avon North America, said the acquisition will also allow Avon to strengthen its focus on the social selling channel as “part of a broader vision for growth and modernization.” The transaction is expected to close on September 1st.
