The deal valued The Body Shop business at about $1.12 billion and creates a cosmetics behemoth, which includes Aesop, and totals some 3,200 stores in 69 countries.
“This alliance creates a combination of companies that share a common purpose that goes way beyond usual businesses. A new force for good is taking shape,” said Natura board chair Guilherme Leal.
Natura’s purchase of The Body Shop from L’Oréal was originally confirmed in June and further solidifies the portfolio’s focus on natural products.
The Body Shop last year saw sales of about $1.02 billion with its chief executive officer and chairman Jeremy Schwartz calling Natura at the time of its announcement earlier this year “the perfect new owner for The Body Shop to accelerate the rejuvenation of the brand and its future expansion.”
Its new parent has pointed to China as a market ripe for potential growth of all three of its brands in addition to Latin America. Natura vice president Robert Chatwin had also said earlier this year, specifically on The Body Shop, the brand’s presence could grow to some 150 cities with the growth into China.
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