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Natura & Co Explores International Spinoff of Avon

Published February 8, 2024
Published February 8, 2024

Natura &Co is assessing a possible separation of Natura &Co LATAM and Avon, resulting in two independent, publicly traded companies better equipped to pursue more tailored strategies to drive long-term shareholder value.

The exploration is consistent with Natura &Co's ongoing strategy of simplifying its corporate structure while providing increased autonomy to its business units. It follows the recent divestments of Aesop to L’Oréal in a $2.5 billion deal and The Body Shop to Aurelius for $254 million.

The goal is to unlock the full potential of both companies, which have distinct geographical footprints and serve different beauty consultants and consumers. The two standalone entities would each have independent governance and management teams affording shareholders greater visibility into the financial performance, structure, and growth prospects.

Natura would continue to operate with both brands in the region, so the potential separation would not impact the integration of the brands in Latin America. Avon would indirectly benefit from the sales in Latin America through a commercial arrangement with Natura, while continuing its operations in other markets outside Latin America. Natura does not own Avon's US and is not part of the plan.

The potential move would support the group's strategy of simplifying operations, strengthening brand autonomy, and unlocking shareholder value. There is no assurance that the Board of Directors will ultimately recommend any separation.

While the assessment is conducted, the company will continue implementing Avon’s turnaround strategy and integrating the businesses of Natura and Avon in Latin America.


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