By  on March 26, 2019

When Avon Products Inc. spun off the struggling North America business in 2016, it was shedding a problem.

The deal was meant to allow the business to focus on international markets, while handing over the North America project to private equity firm Cerberus Capital Management, which bought an 80 percent stake in that company. Since the deal, both parts of Avon have continued to struggle.

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