Sullivan & Cromwell Reps Avon On $650M Silpada Deal

Law360, New York (July 12, 2010, 2:15 PM EDT) -- Avon Products Inc. has agreed to buy jewelry company Silpada Designs Inc. for at least $650 million, a transaction that allows the direct beauty supplier to enter a higher-priced jewelry market.

Avon said Monday it would make an additional payment to the current Silpada shareholders in early 2015 if certain earning growth targets are achieved.

No contractual minimum or maximum for the additional payment has been set, but Avon estimates the amount will be between $50 million and $100 million.

New York-based Avon said the transaction,...
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