Natura signs a binding agreement to sell The Body Shop for R$1.25 billion

Natura signs a binding agreement to sell The Body Shop for R$1.25 billion

Sao Paulo – Natura & Co nature On Tuesday the 14th, Cosméticos announced the signing of a binding agreement with Aurelius Investment Advisory for the sale of the series. Body Shop. The value of the deal is estimated at 207 million pounds sterling (1.25 billion Brazilian riyals), to be paid within five years. A binding agreement indicates that the buyer has a firm commitment to close the deal described in the contract.

According to a Natura statement, the transaction is expected to be completed by December 31, 2023 and is subject to usual regulatory approvals. Aurelius owns the Lloyds pharmacy chain in the UK.

“The sale transaction will support Natura&Co’s efforts to improve its operations and streamline its business, as well as enable it to focus on strategic priorities, especially the integration of Natura and Co. Avon In Latin America, the direct selling model and the further improvement of Avon’s international presence,” the company says, in a related fact filed with the CVM.

The Body Shop chain was bought by Natura in 2017, in a deal worth €1 billion (about R$3.6 billion at the time). At the time, the company already owned the Australian network Aesop, which it purchased in 2012 for about US$70 million. The plans were to create a large international operation. But the experience was not positive. This year, Natura has already divested from Aesop, which was sold to L’Óreal for US$2.5 billion.


See also  The International Monetary Fund expects the Portuguese economy to grow by 4.4% this year

You May Also Like

About the Author: Camelia Kirk

"Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist."

Leave a Reply

Your email address will not be published. Required fields are marked *