NEW YORK, Dec. 17, 2015 /PRNewswire/ -- An investor group
led by Barington Capital Group, L.P., including NuOrion Partners AG
and certain other investors (the "Barington Group"), which
collectively owns more than 3% of the outstanding shares of Avon
Products, Inc. (NYSE: AVP), today released the following comment
below regarding Avon's announced
transaction with Cerberus Capital Management:
James A. Mitarotonda, Chairman
and CEO of Barington Capital Group, L.P., stated "Cerberus clearly
recognizes, like us, that Avon is
an extremely valuable brand. The Avon board apparently does not – it has sold
80% of its North American business and a 16.6% stake in the Company
at what we believe are 'fire sale' prices. While we are
pleased that six existing board members have agreed to step down,
we are astonished that Sheri McCoy
remains as CEO. We intend to explore all available
options."
Additional information about Barington's initiatives to unlock
Avon's long-term value potential
can be found at the following link: www.barington.com/avon.html
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SOURCE Barington Capital Group