AVON acquires Team Wendy

AVON, known for their protective masks for Special Forces, is likely acquiring helmet manufacturer Team Wendy. We have already presented to you the exquisite protective helmets from Team Wendy in detail several times here. The purchase price is $130 million. Together, Avon Protection and Team Wendy will create a leading global provider of head protection systems for the military and first responder markets, after Avon acquired Ceradyne (ceramic armor) from 3M earlier this year here.

The acquisition is expected to be completed in the first quarter of Avon's fiscal year 2021, ending on December 31, 2020. It is subject to approval by Avon shareholders, as well as approvals from US regulatory authorities and the fulfillment of customary closing conditions.

Upon completion of the transaction, Team Wendy will operate as a subsidiary of Avon from the company's current headquarters in Cleveland, Ohio. Team Wendy will continue to be led by its Chief Executive Officer Jose Rizo-Patron and its six department heads, who will all remain in their positions.

TEAM WENDY online: www.teamwendy.com

AVON online: www.avon-rubber.com