Brazil's Natura to seal €1 billion deal for The Body Shop
L’Oréal was today closing in on a €1 billion (£868 million) sale of The Body Shop after entering exclusive discussions with Brazil’s Natura.
The cosmetics giant said Natura, which also owns cult beauty brand Aesop, would “nurture the brand DNA around naturality and ethics” and support the long-term development of Body Shop.
Body Shop chief Jeremy Schwartz added: “The ethical values and expertise of Natura make it the perfect new owner for The Body Shop to accelerate the rejuvenation of the brand and its future expansion.”
L’Oréal put Body Shop, which has struggled in recent years amid intensifying competition from the likes of Lush, up for sale earlier this year.
It is thought to have attracted the attention of private-equity groups, including CVC Capital Partners, and China’s Fosun.
The Natura deal values Body Shop at €1 billion, more than had been expected during the auction.
L’Oréal bought Body Shop, founded by the late environmental campaigner Dame Anita Roddick in Brighton in 1976, for £652 million in 2006 to access the growing market for “green” beauty products.
