Avon North America is reunited with Avon International following its acquisition by global private equity firm Regent.

The acquisition brings the two businesses together under shared ownership for the first time since 2016, with closing expected by 1 September.

Alongside the acquisition agreement, Lisa Siders, currently COO of Avon International and Regent’s Operating Partner for Avon, will become CEO of Avon and lead the combined group upon closing.

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Siders succeeds Kristof Neirynck, who led the business through a period of significant transformation.

“Avon has touched lives for 140 years because it has always stood for something bigger than beauty: opportunity, independence and human connection,” said Michael Reinstein, founder, Chairman and CEO of Regent.

“America is where Avon began and central to where Avon goes next.

“As Avon’s largest market, it will play a defining role in the next chapter of the brand.

“Bringing the business back together gives Avon clearer ownership, a shared strategy and a stronger foundation for growth.

“I want to thank Kristof for the discipline and focus he brought to Avon International, helping strengthen the business, refresh the brand and complete its transition to Regent ownership.”

“Lisa has grown with Avon, earned trust across the business and knows what it will take to lead the company forward. Her appointment reflects the best of what Avon has always stood for: opportunity earned from within.”

Incoming CEO Siders stated: “Avon has an extraordinary history, but its future will be built by what we do next.

“Bringing the business back together gives us the opportunity to build a more focused, connected and ambitious business for our Representatives, Ambassadors, Associates and customers.

“My priority is to strengthen the business for its next phase of growth: better products, sharper execution, stronger market connection and a brand experience that earns loyalty every day.

“Avon has always been built through people, trust and opportunity. That will remain at the centre of how we grow.”

Neirynck added: “Leading Avon International through this period of transformation has been an extraordinary privilege.

“I am proud of what the team has done to strengthen the business and position Avon for its next chapter.

“I will remain closely involved through the end of the year to support a smooth transition.”

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Source: Cosmetics Business (https://www.cosmeticsbusiness.com/)

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