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