Tag Archive for Mergers and Acquisitions

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Zinzino Announces Merger of It Works! For Increased Distribution Power in North America and Europe

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Zinzino announces merger of It Works! into the Zinzino family of businesses for increased distribution power in North America and Europe
Zinzino (publ) (ZZ-B.ST) has today entered into an agreement, and simultaneously closed, to combine with the US-based direct sales company It Works! In an all-share transaction. Through the merger, Zinzino acquired the operational assets of It Works!’ US business, including inventory, distributor agreements, customer agreements, and IP rights, as well as 100% of the shares in It Works! Marketing International UC, an Irish unlimited company, and its wholly owned subsidiaries.
The fixed purchase price amounts to USD 30 million (the “Purchase Price”) which has been paid by Zinzino through a directed set-off issue of 1,843,840 B-shares in Zinzino (the “Directed Issue”). The Directed Issue has been resolved upon by the board of directors of Zinzino, based on the authorization of the Annual General Meeting. The subscription price in the Directed Issue amounts to SEK 145.62 per B-share, which corresponds to the volume weighted average price of Zinzino’s B-share two business days prior to the signing and closing of the transaction. In addition, an additional purchase price estimated to USD 4 million could be paid to It Works! during a five-year span

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Natura Announces Agreement to Sell Avon International and Reinforces Focus on Latin America

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Natura announced it entered into a binding agreement to sell the Avon International business in Europe, Africa and Asia to Regent. The completion of the transaction is subject to customary conditions, including receipt of required regulatory approvals. Avon Russia is not included in this agreement and remains classified as “held for sale”.
The sale of Avon International does not affect the company’s operations in Latin America, which remain at the core of Natura’s strategic priorities. The intellectual property rights and the management of the Avon brand in Latin America remain under Natura’s control.
By selling these assets, the company moves towards the completion of its corporate simplification cycle, initiated in 2022.
“This agreement represents the final steps of the simplification journey initiated three years ago focused on the growth of our operations in Latin America. Avon International has already been implementing a robust transformation agenda, and we believe this journey will be strengthened, resuming sustainable growth of this iconic brand that has transformed the global beauty market over the past 139 years.”
— Fábio Barbosa, Chairman of Natura’s Board of Directors
“There are very few companies that have touched as many lives as Avon. Since its founding in 1886, Avon has built a global community

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