Avon Products Inc 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