Press Release

Kirkland Represents Cerberus in Avon Products, Natura &Co Transaction

Natura &Co (B3: NATU3) announced on May 22 that it is acquiring Avon Products, Inc. (NYSE: AVP) in an all-share transaction, creating the fourth-largest pure-play beauty group in the world and a major force for good in the industry. Kirkland & Ellis represented an entity affiliated with Cerberus Capital Management, in its capacity as the largest stockholder for Avon Products, Inc., in the transaction. The combined group would have an enterprise value of approximately US$11 billion based on closing prices on May 21, 2019, and closing is expected in early 2020.

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The Kirkland team included transactional partners Douglas Ryder, Eric Schiele and Dvir Oren and associate Jake Hansen, as well as technology & IP transactions partner Matthew Lovell.