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Avon Acquires UK's Liz Earle Beauty Co. Limited
Posted: March 25, 2010
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"Joining forces with Avon is a dream come true for us," said co-founder Kim Buckland. "Just as Liz Earle Naturally Active Skincare has its own 'Precious Recipe,' which lies at the heart of all we do, Avon has a long-established reputation for its high levels of customer service, its great workplace environment, and its contributions to the well-being of society."
Liz Earle co-founded the company 15 years ago after an extensive career as a beauty and wellness expert in print and broadcast journalism. This experience led her to develop skin care formulations to treat her own sensitive, eczema-prone skin. Her at-home skincare remedies evolved into Liz Earle Naturally Active Skincare when she teamed up with her friend and business partner, beauty industry marketing expert Kim Buckland. In addition to developing LENAS, Liz has written and published more than 30 books covering a wide range of beauty, health and lifestyle issues. Her most recent publication, Skin Secrets, launched in the U.K. in 2009.
The transaction will be structured as an all-cash acquisition of 100% of the company, and Avon said that it will not have a material impact on earnings per share. Financial terms were not disclosed.
Avon, the company for women, is a leading global beauty company, with more than $10 billion in annual revenue. As one of the world's largest direct sellers, Avon markets to women in more than 100 countries through approximately 6.2 million active independent sales representatives. Avon's product line includes beauty products, as well as fashion and home products. Learn more about Avon and its products at http://www.avoncompany.com/.