Meet the billionaire driving a Brazilian cosmetics firm’s acquisition of Avon: by Noah_Kirsch
the news, wrote that both parties have already agreed to those terms. Avon and Natura subsequently issued press releases on Wednesday disputing that element. “There can be no assurance any transaction will result from these discussions,” wrote Avon.
Shares of Avon rose nearly 13% on the news, as of 11 a.m. Eastern Time on Wednesday; Natura’s stock jumped close to 5%. Natura began as a small store on Rua Oscar Freire in São Paulo, where Seabra offered personalized beauty consulting. By 1977 the business had 40 products, and in 2004 the company went public on Brazil’s Novo Mercado.. At the time Natura emphasized its commitment to ethical business practices, like buying products from native communities in the Amazon. “In the beginning of the 1990s we made a very strong commitment to make the company an agent of social transformation,” said Leal.
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