Brazil's Natura explored divesting cosmetics group Avon International - FT


Adds Natura's comment in paragraph 4

Dec 6 (Reuters) - Brazilian cosmetics maker Natura and CoNTCO3.SA has explored selling most of its Avon brand's international business, the Financial Times reported on Wednesday, citing people familiar with the matter.

Natura, which does not own Avon in the United States, is considering exit strategies for Avon International including a divestment, FT said.

Avon International has operations in Europe, the Middle East and Africa, and Asia Pacific, the report added.

The company declined to comment on the report.

Natura rapidly grew through high-profile acquisitions in recent years, including purchases of The Body Shop, Aesop and Avon International, but ended up struggling with profitability.

It sold The Body Shop last month to private investor Aurelius Group in a deal with an enterprise value of 207 million pounds ($260.8 million).

In May, the company said it would combine the operations of Natura and Avon brands in Latin America to help expand its product portfolio and cut costs.

($1 = 0.7936 pounds)

(Reporting by Gnaneshwar Rajan and Angela Christy in Bengaluru; Editing by Nivedita Bhattacharjee and Varun H K)


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