THE WHAT? Natura &Co has announced that it has agree to sell The Body Shop to private equity firm, Aurelius for an enterprise value of £207 million – a far cry from the £880 million purchase price the Brazilian firm is rumored to have paid L’Oreal in 2017. The transaction is expected to complete before the end of the year.
THE DETAILS Aurelius said it was committed to maintaining The Body Shop’s long-standing, distinctive values.
“We are delighted to be undertaking this acquisition of an iconic British brand, which pioneered the cruelty-free and natural ingredient movement in the health and beauty market,” said Tristan Nagler, Partner at Aurelius. “We look forward to working with CEO Ian Bickley and his team to drive operational improvements and re-energise the business and help to deliver the next chapter of success.”
THE WHY? Fabio Barbosa, Chief Executive Officer of Natura &Co, commented, “With the sale of The Body Shop, we are taking another important step in Natura &Co’s new development cycle to unlock significant value. Refocused, deleveraged and leaner, Natura &Co will now be able to fully concentrate on its core relationship selling expertise in Latin America while also continuing the optimization of Avon International’s footprint and investing in initiatives and innovations that positively impact people and the planet. We are pleased to have found a strong home for The Body Shop to write the next chapter in its remarkable story, and we extend our sincerest thanks to all The Body Shop’s associates, who contributed immensely to broadening Natura &Co’s horizons. We wish them continued success under the stewardship of Aurelius.”