Only five years after paying what was reported at the time as ‘several millions’ for Isle of Wight-based beauty brand, Liz Earle, US owners, Avon have sold it on.
The original deal was for an undisclosed sum, but was reported at the time by many as ‘several millions’. The latest deal is being reported as costing Walgreens Boots Alliance £140,000,000.
Liz Earle is a big employer on the Island with around 600 people working for them at their Ryde base.
Sheri McCoy, chief executive of Avon, said,
“Liz Earle is the perfect fit for Walgreens Boots Alliance where it already has a strong presence in its retail stores.”
Thanks to Steve Izatt (head of brand agency ThinkFarm) for the heads-up on the story. He made us giggle with this line,
“They didn’t go ding dong for long with Avon.”
Details of what Avon paid for Liz Earle amended.
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