Natura
November 14, 2023
SÃO PAULO, November 14, 2023 --
Natura &Co agreed to sell The Body Shop to international private equity group Aurelius for an enterprise value of 207 million pounds, including an earn-out of 90 million pounds, with the price and earn-out payable over up to five years after closing. The deal, which followed an exclusivity agreement with Aurelius announced October 30, was expected to close by December 31, 2023, subject to customary regulatory approvals.
Natura &Co said the sale would let it refocus on accelerating the integration of the Natura and Avon brands in Latin America, its core relationship-selling model and further optimization of Avon International's footprint. Group Chief Executive Fabio Barbosa said the group would emerge refocused, deleveraged and leaner.
Natura &Co acquired The Body Shop in 2017 and the retailer now operates in more than 80 countries. The sale follows the August 2023 sale of Aesop to L'Oréal and leaves Natura &Co centered on the Natura and Avon direct selling brands.