July 6, 2018
Beauty products maker New Avon LLC is poised to shed its sole remaining manufacturing plant in the U.S. to French pharmaceuticals and cosmetics firm Fareva Group, according to a report Friday by the Wall Street Journal.
Tournon-sur-Rhone, France-based Fareva will acquire the 500,000-sq-ft production facility and a warehouse in Morton Grove, IL, where the firm will produce beauty products like skin creams and lipstick on contract and for private labels, the newspaper’s coverage said, citing unnamed sources with knowledge of the matter.
The transaction will end Avon’s century-long manufacturing presence in the U.S. Financial terms of the deal are unknown, according to the Journal.
Fareva signed a 10-year deal with Walgreens Boots Alliance Inc. in December 2017 to manufacture private label products and its various beauty brands across its global footprint. Under the agreement, the French firm took ownership of the Deerfield, IL health and wellbeing company’s contract manufacturing unit BCM, including several plants in Europe.
Formerly a part of Avon Products Inc., New Avon describes itself as “the leading social selling beauty company in North America” on its website. Its brands like Avon Color and Skin So Soft are sold by independent sales representatives in the U.S., Canada, and Puerto Rico.
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