US private equity firm Regent has agreed to acquire the Avon Company in North America from LG Household and Health Care to consolidate the brand under unified ownership.
The transaction, which was executed through Regent affiliate Stratford Worldwide, will consolidate the target alongside Avon International under unified sponsor ownership.
While financial terms were not disclosed, LG Household originally acquired the North American arm in 2019 for $125m (£91.6m). The transaction is expected to close by 1 September.
The cross-border carve-out resolves a decade of fragmented ownership following the 2016 corporate split of the 140-year-old direct-selling brand. Regent, which acquired Avon International in January, plans to extract cost synergies, streamline supply chains and align product development across regional markets.
As part of the seller exit, LG Household USA agreed to convert existing intercompany loans extended to the target into equity to clear internal receivables prior to closing.
Alongside the transaction, Regent operating partner and current Avon International chief operating officer Lisa Siders will become chief executive of the combined entity upon closing. She replaces chief executive Kristof Neirynck, who led the initial restructuring under Regent ownership.
The seller called the divestment part of a portfolio realignment meant to reallocate capital toward higher-growth K-beauty retail and digital channels. The integrated asset will focus on operational execution and supply chain alignment across its global social-selling network.
Michael Reinstein, founder, chairman and chief executive of Regent, said: “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.”
Neirynck said: “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.”
Siders added: “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.”
