Written on: November 14, 2023 by SprayTM
Natura &Co has reached agreement to sell The Body Shop to international private equity group Aurelius, marking a new step in the Brazilian personal care and cosmetics company’s strategy to simplify and refocus its operations.
Under the transaction, Aurelius has signed an agreement to acquire The Body Shop for an enterprise value of GBP 207 million ($254.32 million). including an earn-out of GBP 90 million ($112 million). The closing of the transaction is expected to occur by December 31, 2023.
With the transaction, Natura &Co will continue its drive to refocus on its strategic priorities, the company said, notably accelerating the integration of the Natura and Avon brands in Latin America, focusing on its core relationship selling model, and further optimizing Avon International’s footprint.
Ian Bickley, CEO of The Body Shop, said in a statement, “Today, we celebrate a truly historic moment for The Body Shop as we join forces with Aurelius to begin a new chapter, allowing us to continue building the relevancy of this global brand for future generations.”