Natura &Co has closed its sale of luxury cosmetics brand Aesop to L’Oreal for a final enterprise value of $2.58bn.
The Body Shop owner initially announced the sale of cosmetics firm back in April, as it sought to focus on “strategic priorities” and strengthen its balance sheet.
The sale will allow the business to integrate its Natura and Avon brands in Latin America, optimising Avon International’s footprint and strengthening The Body Shop’s business.
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Since becoming part of Natura &Co in 2012, Aesop saw its number of stores and counters rise from 52 to 395.
L’Oréal Group chief CEO Nicolas Hieronimus said: “We are delighted to welcome Aesop to the L’Oréal Groupe family and thank Natura &Co for its guardianship over the years.
“A much-loved and distinctive brand, as part of L’Oréal Luxe, we look forward to bringing Aesop’s avant-garde take on beauty to more consumers around the world, and help the brand realize its true potential on the global stage.”
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