01.22.15
News reports are circulating the Avon is talking to a private equity firm about a possible sale.
According to Dealreporter, the PE firm is TPG Capital—although TPG told both CNBC and Bloomberg that it had no comment.
The report helped Avon’s stock price rise by almost 15% on Thursday—one of the largest single-day gains reported by the door-to-door beauty company since early 2013. Avon closed at $8.66. The company’s 52-week low was $7.25.
Avon Japan is part of the TPG portfolio; Avon Products, Inc. sold its 74.67% ownership interest in Avon Japan to an affiliate of TPG Capital for about $90 million in 2010.
TPG Growth took a majority stake in e.l.f. Cosmetics in February 2014, and its most recent beauty business buy came in mid-December 2014 when it acquired a minority stake in Beautycounter, a Santa Monica, CA-based company.
TPG’s roster also includes consumer-based operations like J. Crew, Uber, Chobani and Petco as well as biotech firms in North America, Asia and Europe.
According to Dealreporter, the PE firm is TPG Capital—although TPG told both CNBC and Bloomberg that it had no comment.
The report helped Avon’s stock price rise by almost 15% on Thursday—one of the largest single-day gains reported by the door-to-door beauty company since early 2013. Avon closed at $8.66. The company’s 52-week low was $7.25.
Avon Japan is part of the TPG portfolio; Avon Products, Inc. sold its 74.67% ownership interest in Avon Japan to an affiliate of TPG Capital for about $90 million in 2010.
TPG Growth took a majority stake in e.l.f. Cosmetics in February 2014, and its most recent beauty business buy came in mid-December 2014 when it acquired a minority stake in Beautycounter, a Santa Monica, CA-based company.
TPG’s roster also includes consumer-based operations like J. Crew, Uber, Chobani and Petco as well as biotech firms in North America, Asia and Europe.