Natura
April 3, 2023
SÃO PAULO, April 3, 2023 --
Natura &Co Holding said it agreed to sell luxury beauty brand Aesop to L'Oréal for an enterprise value of 2.525 billion dollars. The deal remained subject to customary regulatory approvals and was expected to close in the third quarter of 2023.
Group chief executive Fabio Barbosa said the divestment would strengthen and deleverage Natura &Co's balance sheet and free resources for strategic priorities, including Latin America integration, further optimization of Avon International's footprint, and improvement of The Body Shop's business. Aesop's gross sales grew from 28 million dollars in 2012, when Natura acquired it, to 537 million dollars in 2022, with stores and counters expanding from 52 to 395 across 29 markets.
Natura &Co is a Brazil-based multi-brand cosmetics group that includes Avon, Natura, The Body Shop and Aesop; Aesop was later classified as discontinued operations after the announcement.