While LG Household & Health Care was signing on the dotted line for the North American division, Natura is said to be in ‘advanced talks’ to buy Avon Products, according to a report published by Reuters.
The Brazilian owner of The Body Shop and Aesop did not reference the sale of the North American unit to LG Household & Health Care in a statement issued to Reuters but did confirm talks were ongoing between it and the direct sales giant.
The market had speculated that Natura’s plans included the purchase of both units and reuniting the business – however, last week’s events would put paid to that possibility. Still, Natura’s shares rose 10 percent last Thursday as the statement was issued while Avon saw a 3.4 percent uplift.
A Reuters source suggests that a deal could be struck in a matter of weeks.