07.03.17
BRAZIL: L’Oréal has received an offer from Natura Cosméticos SA to acquire The Body Shop, and has entered into exclusive discussions with the Brazilian cosmetics company. The proposed transaction values The Body Shop at €1.0 billion.
The deal was to be submitted to L’Oréal’s employee representative body and is subject to regulatory approval, notably in Brazil and in the US.
Acquired by L’Oréal in 2006, The Body Shop was founded in 1976 by Anita Roddick in Brighton, England. It is now present in more than 60 countries through various distribution channels including more than 3,000 point of sales and e-commerce. In 2016, it generated retail sales of approximately €1.5 billion and net sales of €921 million.
“I am very pleased to announce Natura as the potential new “home” for The Body Shop. It is the best new owner we could imagine to nurture the brand DNA around naturality and ethics. Natura will support The Body Shop development in the long-term and enable The Body Shop to best serve its customers while respecting its strong commitments towards its employees, franchisees and stakeholders,” said Jean-Paul Agon, chairman and CEO of L’Oréal.
“I am sure that all customers, employees, franchisees and stakeholders of The Body Shop will join me in welcoming L’Oréal’s decision to enter into exclusive discussions with Natura. The ethical values and expertise of Natura makes it the perfect new owner for The Body Shop to accelerate the rejuvenation of the brand and its future expansion,” said Jeremy Schwartz, chairman and CEO of The Body Shop.
The proposed transaction is expected to close during 2017.
The deal was to be submitted to L’Oréal’s employee representative body and is subject to regulatory approval, notably in Brazil and in the US.
Acquired by L’Oréal in 2006, The Body Shop was founded in 1976 by Anita Roddick in Brighton, England. It is now present in more than 60 countries through various distribution channels including more than 3,000 point of sales and e-commerce. In 2016, it generated retail sales of approximately €1.5 billion and net sales of €921 million.
“I am very pleased to announce Natura as the potential new “home” for The Body Shop. It is the best new owner we could imagine to nurture the brand DNA around naturality and ethics. Natura will support The Body Shop development in the long-term and enable The Body Shop to best serve its customers while respecting its strong commitments towards its employees, franchisees and stakeholders,” said Jean-Paul Agon, chairman and CEO of L’Oréal.
“I am sure that all customers, employees, franchisees and stakeholders of The Body Shop will join me in welcoming L’Oréal’s decision to enter into exclusive discussions with Natura. The ethical values and expertise of Natura makes it the perfect new owner for The Body Shop to accelerate the rejuvenation of the brand and its future expansion,” said Jeremy Schwartz, chairman and CEO of The Body Shop.
The proposed transaction is expected to close during 2017.