K&L Gates Cross-Platform Team Advises LG Household & Healthcare Company in Acquisition Agreement with New Avon LLC
29 April 2019
Global law firm K&L Gates LLP has advised Korean leading consumer goods company LG Household & Healthcare Company (LGHH) on a definitive agreement with an affiliate of Cerberus Capital Management, L.P., and Avon Products, Inc., to acquire New Avon, LLC, for $125 million in cash.
The acquisition will create an expanded international portfolio for LGHH including a dedicated employee base and network of 250,000 sales representatives throughout North America.
The extensive deal team advising LGHH was led by corporate/M&A partners Robert Matlin, Henry Shin, and Jon Barron (all New York) and corporate/M&A associate Phil Lee (New York), with assistance from tax partner Adam Tejeda (New York); employee benefits partner Rikki Sapolich-Krol (San Francisco); IP partner Matt Dicke (Chicago); antitrust partners Allen Bachman and Steven Hill (both Washington, DC); food, drugs, medical devices and cosmetics partner Mike Hinckle (Research Triangle Park); technology transactions partner Julia Jacobson (Boston); environmental partner David Naidu (New York); litigation partners Matt Ball (San Francisco), Jennifer Thiem (Charleston), and Joanna Diakos (New York); private equity partner Jae Park (New York); antitrust counsel Ken Knox (Washington, DC); and labor, employment, and workplace safety counsel Bryan Cantrell (Newark).
The transaction is expected to close in September 2019, subject to certain customary closing conditions and regulatory approvals in the United States.