Cerberus Capital Management’s Affiliate Buys Avon Products Inc (AVP)’s Preferred Stock

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Page 10 of 10 SEC Filing

Exhibit 1

 

 

JOINT FILING AGREEMENT

The undersigned hereby
agree that they are filing this statement jointly pursuant to Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of
1934, as amended. Each of them is responsible for the timely filing of such Schedule 13D and any amendments thereto, and for the
completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the
completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason
to believe that such information is inaccurate.

In accordance with Rule
13d-1(k)(1), as amended, the undersigned hereby agree to the joint filing with each other on behalf of each of them to such a statement
on Schedule 13D with respect to the common stock or other securities of Avon Products, Inc. beneficially owned by each of them.
Each of the undersigned hereby expressly authorizes each other party to file on its behalf any and all amendments to such statement.
This Joint Filing Agreement shall be included as an exhibit to such Schedule 13D.

Dated: March 11, 2016

/s/ Stephen Feinberg
Stephen Feinberg, individually, and in his capacity as the managing member of Avatar GP, LLC, the general partner of Cleveland Apple Investor L.P.
Cleveland apple investor l.P.
By:    Avatar GP, LLC, its general partner
By: /s/ Stephen Feinberg
Stephen Feinberg, Authorized Signatory
AVATAR GP, LLC
By: /s/ Stephen Feinberg
Stephen Feinberg, Authorized Signatory

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