2 hours ago | By Alice Gividen
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Jun 09, 2017
By WGSN Insider
Barring a last-minute hiccup, expect Brazil’s beauty giant Natura Cosméticos to become the surprise new owner of The Body Shop for €1bn.
Brand owner L’Oréal said it has entered into exclusive discussions with Natura following an extensive review of the strategic options for the ethical UK beauty brand.
L’Oréal CEO Jean-Paul Agon said Natura was “the best new owner we could imagine to nurture the brand DNA around naturality and ethics.
“Natura will support The Body Shop development in the long-term and enable The Body Shop to best serve its customers while respecting its strong commitments towards its employees, franchisees and stakeholders.”
“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,” added Body Shop CEO Jeremy Schwartz.
The proposed transaction will be submitted to L’Oréal’s employee representative body and is subject to regulatory approval, notably in Brazil and in the US. The proposed transaction is expected to close this year, it said.
Body Shop operates in over 60 countries through various distribution channels including more than 3,000 point of sales and e-commerce, generating retail sales of around €1.5bn net sales of €921m.
Natura manufactures and markets beauty products, household, and personal care, skincare, cosmetics, fragrance and haircare products with an annual turnover of over $3bn.
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