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Reuters
Published
Mar 25, 2010
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Avon buys UK's Liz Earle Beauty in all cash deal

By
Reuters
Published
Mar 25, 2010

Avon

CHICAGO, March 25 (Reuters) - Avon Products Inc (AVP.N) said on Thursday 25 March that it is buying privately-held Liz Earle Beauty Co Ltd, a UK-based skincare brand, a move that will give the cosmetics giant a way to expand its anti-aging lineup with a brand known for botanical ingredients and natural positioning.

The Liz Earle Naturally Active Skincare line of products will continue to be managed independently under the leadership of co-founders Liz Earle and Kim Buckland from Liz Earle Beauty's headquarters in Ryde, Isle of Wight, Avon said.

Financial terms of the all-cash acquisition were not disclosed, but Avon said the deal would not have a material impact on its earnings per share.

Liz Earle, a former journalist, co-founded the company 15 years ago after developing skincare formulations to treat her own skin, which was sensitive and prone to eczema. The brand is sold mainly through direct-to-consumer channels, according to Avon, the world's top direct seller of cosmetics.

(Reporting by Jessica Wohl; editing by John Wallace)

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