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Avon Products Inc Goes Back To Beauty With Sale of Silpada-DJ


Tuesday, 2 Jul 2013 06:58pm EDT 

Dow Jones reported that Avon Products Inc said it will sell its struggling jewelry business for $85 million in cash. Avon said it will sell Silpada back to the founders of the business, and said it may pay them an additional $15 million if the business meets certain earnings targets over the next two years. Avon expects to book an $80 million pre-tax loss from the sale in the second quarter, and plans to use the proceeds to repay debt and other purposes. The deal is expected to close July 3. 

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19 Sep 2014