NEW YORK CITY (dpa-AFX) - Avon Products, Inc. (AVP) announced it has divested Liz Earle, its wholly-owned, UK-based natural skincare brand. Walgreens Boots Alliance acquired the Liz Earle business for 140 million pounds in an all-cash deal. The company will use the proceeds for the anticipated redemption of $250 million, 2.375% Notes due March 2016.
Avon acquired Liz Earle in March 2010 and has since managed the brand as a standalone business from the core direct-selling business.
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