SÃO PAULO, Dec. 19, 2019
/PRNewswire/ -- Natura &Co Holding S.A. (NTCO3 – B3) and Avon
Products, Inc. (AVP – NYSE) announce that they have received all
regulatory approvals required to complete Natura &Co's
acquisition of Avon Products, Inc., paving the way for the closing
of the transaction expected on January 3,
2020. This follows the approval without restrictions by the
Mexican Federal Economic Competition Commission (Comisión Federal
de Competencia Económica), the last remaining regulatory approval
that is a condition precedent needed to conclude the deal.
The combination, which was announced on May 22, 2019, will result in the creation of the
world's fourth-largest pure-play beauty company, grouping together
Avon, Natura, The Body Shop and
Aesop.
On January 6, 2020, Natura &Co
is expected to begin trading on the NYSE through American
Depositary Receipts (ADRs), under the NTCO ticker symbol, in
addition to continuing trading shares on the B3 stock exchange in
São Paulo.
Roberto Marques, Executive
Chairman of Natura &Co Holding, declared: "With all regulatory
approvals, we are very close to completing the acquisition of
Avon. We greatly look forward to
welcoming Avon to our family of
iconic beauty companies, starting a new chapter in Natura &Co's
history."
About Natura &Co
Natura &Co is a global
purpose-driven, multi-channel and multi-brand cosmetics group that
is home to Natura, Aesop and The Body Shop, each a trailblazer in
the beauty industry. Natura &Co posted net revenues of
R$ 13.4 billion in 2018. The three
companies are unique in mission and spirit but connected by a
common goal of shaping a better world through positive economic,
social and environmental impact. Founded in 1969, Natura is a
leading Brazilian multinational brand in the cosmetics and personal
care sector, and the leader in direct sales. For the past eight
years, Natura has been recognized as one of the most ethical
companies in the world by Ethisphere Institute, the global leader
in defining and developing ethical standards for business conduct.
Founded in 1976 by Dame Anita
Roddick, in Brighton,
England, The Body Shop was created with a vision of being a
force for social and environmental good. Australian beauty brand,
Aesop, was founded in 1987 with a passion for design, literature,
and meticulous attention to detail, efficacy and sensory
pleasure.
About Avon Products Inc.
For more than 130 years
Avon has stood for women:
providing innovative, quality beauty products which are primarily
sold to women, through women. Millions of independent sales
Representatives across the world sell iconic Avon brands such as
Avon Color and ANEW through their social networks, building their
own beauty businesses on a full- or part-time basis.
Avon supports women's empowerment,
entrepreneurship and well-being and has donated over $1billion to women's causes through Avon and the Avon Foundation. Learn more
about Avon and its products at
www.avonworldwide.com. #stand4her
CAUTION ABOUT FORWARD-LOOKING STATEMENTS
Statements in this communication (or in the documents it
incorporates by reference) that are not historical facts or
information may be forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Among other
things, these forward looking statements may include statements
regarding the proposed transaction involving Natura and
Avon; beliefs relating to value
creation as a result of a proposed transaction involving Natura and
Avon; the expected timetable for
completing the transaction; benefits and synergies of the
transaction; future opportunities for the combined company; and any
other statements regarding Avon's
and Natura's future beliefs, expectations, plans, intentions,
financial condition or performance. In some cases, words such as
"estimate," "project," "forecast," "plan," "believe," "may,"
"expect," "anticipate," "intend," "planned," "potential," "can,"
"expectation," "could," "will," "would" and similar expressions, or
the negative of those expressions, may identify forward-looking
statements. These forward-looking statements are based on Natura's
and Avon's expectations and
beliefs concerning future events and involve risks and
uncertainties that may cause actual results to differ materially
from current expectations. These factors are difficult to predict
accurately and may be beyond Natura's and Avon's control. Forward-looking
statements in this communication or elsewhere speak only as of the
date made. New uncertainties and risks arise from time to time, and
it is impossible for Natura or Avon to predict these
events or how they may affect Natura or Avon. Therefore, you should not rely on any of
these forward-looking statements as predictors of future events.
Except as required by law, neither Natura nor Avon has
any duty to, and does not intend to, update or revise the
forward-looking statements in this communication or elsewhere after
the date this communication is issued. In light of these risks and
uncertainties, investors should keep in mind that results, events
or developments discussed in any forward-looking statement made in
this communication may not occur. Uncertainties and risk factors
that could affect Natura's and/or Avon's future performance and cause
results to differ from the forward-looking statements in this
communication include, but are not limited to, (a) the parties'
ability to consummate the transaction or satisfy the conditions to
the completion of the transaction, including the receipt of
regulatory approvals required for the transaction on the terms
expected or on the anticipated schedule; (b) the parties' ability
to meet expectations regarding the timing, completion and
accounting and tax treatments of the transaction; (c) the
possibility that any of the anticipated benefits of the proposed
transaction will not be realized or will not be realized within the
expected time period; (d) the risk that integration of Avon's
operations with those of Natura will be materially delayed or will
be more costly or difficult than expected; (e) the failure of
the proposed transaction to close for any other reason; (f) the
effect of the announcement of the transaction on customer and
consultant relationships and operating results (including, without
limitation, difficulties in maintaining relationships with
employees or customers); (g) dilution caused by Natura's
issuance of additional shares of its common stock in connection
with the transaction; (h) the possibility that the transaction may
be more expensive to complete than anticipated, including as a
result of unexpected factors or events; (i) the diversion of
management time on transaction-related issues; (j) the possibility
that the intended accounting and tax treatments of the proposed
transactions are not achieved; (k) those risks described in Section
4 of Natura's Reference Form for 2018, version 15, which was filed
with the Brazilian Securities Commission on April 24, 2019; and (l)
those risks described in Item 1A of Avon's most recently filed
Annual Report on Form 10-K and subsequent reports on Forms 10-Q and
8-K.
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SOURCE Natura &Co