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Avon Acquires UK's Liz Earle Beauty Co. Limited
Posted: March 25, 2010
Avon Products, Inc. (NYSE: AVP) announced its acquisition of Liz Earle Beauty Co. Limited, a fast-growing, privately held brand of naturally active skin care products sold primarily through direct-to-consumer channels. The U.K. brand will become part of Avon's global skin care portfolio, broadening Avon's leadership position in antiaging skin care with Liz Earle's expertise in botanical ingredients and natural positioning.
Avon said the acquisition was consistent with its previously stated intention to explore opportunities that would complement its core beauty direct-selling business. Avon also stated that Liz Earle Naturally Active Skincare will continue to be managed independently as a stand-alone brand under the leadership of co-founders Liz Earle and Kim Buckland, and will maintain its headquarters in Ryde, Isle of Wight, United Kingdom.
Andrea Jung, Avon's chairman and chief executive officer, said, "We are delighted to welcome Liz Earle Naturally Active Skincare to Avon, and we see this new partnership as a perfect fit for both companies. Liz Earle's tightly edited range of award-winning, naturally active skin care products is highly complementary to Avon's antiaging skin care and broader beauty portfolio. It also represents a long-term opportunity to develop a stand-alone Liz Earle direct-selling representative channel."
The existing Liz Earle Naturally Active Skincare (LENAS) product range offers head-to-toe skin care solutions with products that deliver results with integrity and efficacy to the beauty-savvy customer. Since its conception, the brand has evolved into a full-service beauty line formulated to treat all skin types holistically with naturally active ingredients. LENAS provides total skin care for the face and body for all ages and skin types.
"We are very excited to be aligning with an iconic global beauty brand like Avon," said Liz Earle, co-founder. "We believe that the Liz Earle Naturally Active Skincare philosophy and extraordinary brand loyalty we have built in the U.K., when combined with Avon's presence in more than 100 markets around the world, offers an outstanding opportunity for global expansion for our company."