Avon Products Inc. said it agreed to...

Avon Products Inc. said it agreed to sell its catalogue clothing division for $151.2 million, principally in cash, to a management team led by division President William H. Willett. The closing is expected within 60 days. Proceeds of the sale will be used to reduce debt, the New York-based firm said. The division had sales of $216.2 million last year. The division has three catalogue businesses: Avon Fashions, moderately priced women’s clothing; Brights Creek, children’s wear, and James River Traders, pricey casual clothes for men and women.