The Body Shop‘s surprise buyer Natura Cosmeticos has now completed its acquisition of the health and beauty retailer, after being granted permission by the competition watchdogs.
Its previous owner L‘Oreal sold the British high street retailer on June 9 in a deal thought to be worth £880 million, although this figure has not been confirmed.
The buyer, Brazil‘s largest cosmetics company, will now add The Body Shop‘s global estate to its already significant operations.
Following the acquisition Natura will trade from 3200 stores in nearly 70 markets, employing around 18,000 staff.
“We are thrilled to welcome The Body Shop to the Natura group,” co-chairman Guilherme Leal said.
“This alliance creates a combination of companies that share a common purpose that goes way beyond usual businesses. A new force for good is taking shape.”