The Body Shop has completed its acquisition of Adidem Pty Ltd, the independent franchisee company which has been operating The Body Shop in Australia since 1983.
This acquisition will move the fifth biggest The Body Shop market’s retail sales from a franchise operation to a Company-owned market.
Over the last 32 years, Head Franchisee Graeme Wise has successfully grown the business in Australia, making the country The Body Shop’s fifth biggest market.
Wise commented, “In transferring ownership of the business to The Body Shop International, I am pleased that the future of the business will be in the best possible hands.”
Jeremy Schwartz, Chairman and CEO The Body Shop, said, “I am delighted to welcome the talented teams in Australia who have contributed to build a successful business in this strategic market. I am very much looking forward to working with them and pursuing the development of The Body Shop values, culture and business in Australia.”
Founded in England in 1976, The Body Shop has been part of the L’Oréal Group since 2006 and now operates more than 3,000 outlets in 66 countries.