US$2.58 billion transaction will strengthen the Group's balance sheet
SÃO PAULO, Aug. 30, 2023 /PRNewswire/ -- Natura &Co (NYSE – NTCO; B3 – NTCO3) announces that it has completed the sale of Aesop to L'Oréal for a final enterprise value of US$2.58 billion after obtaining all customary regulatory approvals.
The transaction, initially announced on April 3, 2023, will allow Natura &Co to strengthen its balance sheet and focus on its strategic priorities, notably accelerating the integration of the Natura and Avon brands in Latin America, further optimizing Avon International's footprint and continuing to strengthen The Body Shop's business.
Fabio Barbosa, Chief Executive Officer of Natura &Co, declared: "Under the stewardship of Natura &Co, Aesop reached new heights, expanding the brand's presence across the globe. In its constant striving for excellence, it also enhanced its sustainability practices. We feel immense gratitude and deep respect for its management and teams and will always hold the company close to our hearts. We wish Aesop all the best for the next chapter as part of the L'Oréal Groupe."
Nicolas Hieronimus, Chief Executive Officer of L'Oréal Groupe, stated: "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."
About Natura &Co
Natura &Co is a global purpose-driven, group uniting Natura, Avon, and The Body Shop. We connect more than 200 million clients worldwide, engaging them through 7 million dedicated Consultants and Representatives, 2,000 stores and franchises, and 30,000 employees.
We believe in promoting real positive economic, social, and environmental impact. We believe that the world does not need another big company. The world needs symbols of change capable of blazing new trails and inspiring others to follow. We believe in the power of cooperation, co-creation, and collaboration for a better way of living and doing business.
We are Natura &Co.
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SOURCE Natura &Co