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UPDATE 1-Avon International potential sale not on the radar, says Natura&Co's CEO

Reuters
·1-min read

(Adds quotes and context in paragraphs 2-6)

SAO PAULO, March 12 (Reuters) - A potential sale of business unit Avon International is not on the radar of Brazilian cosmetics maker Natura&Co, its Chief Executive told journalists on Tuesday.

Natura&Co, which has sold Aesop and The Body Shop brands, is

studying splitting

its Avon brand outside Latin America, known as Avon International, which could spawn a new listed firm managing the business outside the region.

Avon's U.S. business, which was never owned by Natura&Co, is not a part of the potential spin-off.

In December, the Financial Times reported Natura&Co was considering exit strategies for Avon International including a divestment.

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"A sale process (of Avon International) it's not on the radar", Natura&Co's CEO Fabio Barbosa said, after being asked about it. "It was never considered, it was never studied", he added.

He said Avon International is part of Natura&Co's strategy to give more independence to its business units, with the group currently working to focus the unit's operation in less countries. (Reporting by Andre Romani; Editing by Steven Grattan)