Avon Finally Finds An Investor In Cerberus Capital With A $605 Million Deal

The transaction entails Cerberus investing $435 million into Avon and carving Avon's North American division into a separate entity by investing another $170 million in it. Avon sold 80.1% of its North American business to Cerberus. According to Avon?s CEO Sheri McCoy, the company will now strengthen focus on its international business from where it generates over 85% of its revenues. There will be some changes in board members, as well. Five of Avon's directors will be replaced and the company'...