The regulator approved the proposed purchase of Natura & Co. UK Holdings Limited by Avon International Limited, a special purpose vehicle under investment firm Regent L.P..
Natura UK currently holds the Avon international business, which sells personal care, cosmetics and fashion products through direct selling, e-commerce and limited retail stores.
In the Philippines, Avon operates through Avon Cosmetics, Inc., which distributes beauty and personal care products, and Avon Products Manufacturing, Inc., which produces cosmetics for domestic and export markets.
Following a Phase 1 review, the PCC said the transaction does not raise competition concerns in the country.
The regulator found no overlap in the parties’ businesses and said they are neither direct competitors nor involved in a supplier-customer relationship.
—Edited by Miguel R. Camus
