Regent has agreed to acquire Avon North America from LG Household & Health Care, reuniting the two halves of the 140-year-old beauty brand under a single owner for the first time since 2016. Avon was carved in two in 2016, when Cerberus Capital Management took control of the North American business and separated it from the international company. The pieces then drifted to opposite ends of the world.

In 2019, LG Household & Health Care agreed to buy the North American business for $125m in cash, acquiring Cerberus's majority and Avon's minority interest in the North American operation. A year later, Natura &Co bought the international business, planning to fold Avon's vast direct-selling network into its own.