LG Household & Health Care Ltd, South Korea’s top beauty and personal care brand, purchased a 100% stake in Avon Japan for 10.5 billion yen ($96.3 million) through Ginza Stefany, a Japanese based wholly owned subsidiary. This marks its third acquisition in the Japanese market, having bought Ginza Stefany Cosmetics in 2012 and Everlife Co. in 2013.
WHO: Avon Japan is an offshoot of the American direct sales beauty company. The business is based in Tokyo, is 50 years old, and is the 21st-largest cosmetics manufacturer in Japan.
DETAILS:
- LG Household & Health Care will acquire Avon Products Japan for 10.5 billion yen ($96.3 million).
- Avon Japan, an offshoot of the American direct sales beauty company, will become a wholly owned subsidiary of LG Household.
- Avon Japan was sold to an affiliate of TPG Capital in 2010 and Keystone Partners acquired it in 2016.
Photo: Daryan Shamkhai via Unsplash
