PR Newswire
Acquisition reunites Avon North America and Avon International under common ownership for the first time since 2016, with America central to Avon's next chapter
Regent, the global investment firm founded by investor Michael A. Reinstein, today announced it has agreed to acquire Avon North America from LG Household & Health Care Ltd. The acquisition will reunite Avon North America and Avon International under common ownership for the first time since 2016. Closing is expected by 1 September.
The agreement marks a defining step for Avon, one of the world's most recognised beauty businesses. Founded in New York in 1886, Avon continues to stand for opportunity, independence and community for generations of women around the world. The acquisition reconnects Avon's largest market with Avon International, creating a stronger platform for growth, product focus and a more connected opportunity for employees, Representatives and Ambassadors.
Alongside the agreement, Avon International announced that Lisa Siders, currently Chief Operating Officer of Avon International and Regent's Operating Partner for Avon, will become Chief Executive Officer of Avon and lead the combined group upon closing. She succeeds Kristof Neirynck, who has led the business through a period of significant transformation.
Michael Reinstein, Founder, Chairman and Chief Executive Officer of Regent
"Avon has touched lives for 140 years because it has always stood for something bigger than beauty: opportunity, independence and human connection. 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 the business back together gives Avon clearer ownership, a shared strategy and a stronger foundation for growth. I want to thank Kristof for the discipline and focus he brought to Avon International, helping strengthen the business, refresh the brand and complete its transition to Regent ownership.
"Lisa has grown with Avon, earned trust across the business and knows what it will take to lead the company forward. Her appointment reflects the best of what Avon has always stood for: opportunity earned from within."
Kristof Neirynck, Chief Executive Officer, Avon International
"Leading Avon International through this period of transformation has been an extraordinary privilege. I am proud of what the team has done to strengthen the business and position Avon for its next chapter. I will remain closely involved through the end of the year to support a smooth transition."
Lisa Siders, incoming Chief Executive Officer, Avon
"Avon has an extraordinary history, but its future will be built by what we do next. Bringing the business back together gives us the opportunity to build a more focused, connected and ambitious business for our Representatives, Ambassadors, Associates 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. Avon has always been built through people, trust and opportunity. That will remain at the centre of how we grow."
About Avon
For 140 years, Avon has championed progress for women through beauty, entrepreneurship and community. Through independent Representatives and Ambassadors around the world, Avon offers high-quality, award-winning beauty and wellbeing products through a relationship-selling model built on trust, human connection and flexible earning opportunity. Avon has donated more than $1.1 billion to causes that matter to women. Avon International is part of the Regent portfolio. Learn more at www.avonworldwide.com.
About Regent
Founded by investor Michael A. Reinstein, Regent is a privately held global investment firm headquartered in Beverly Hills, California, with offices in London, Paris, Munich and New York. Regent owns and invests in businesses across luxury, fashion, beauty, consumer, media, technology, industrial and automotive sectors, taking a long-term approach to building and transforming companies across its global portfolio. Learn more at regentco.com.
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