L’Oréal has announced that it has concluded the sale of The Body Shop to Natura Cosmeticos.

The French beauty giant revealed in a statement that it had obtained the necessary authorizations from the relevant authorities and that the deal was finalized on September 7.

“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. I would like to thank all The Body Shop employees and partners around the world for their contribution to the development of the brand over the past eleven years and I am confident they will be in the best hands for the future,” said Jean-Paul Agon, L’Oréal Chairman and CEO as the French beauty giant entered into exclusive discussions with Natura back in June.