Natura &Co, the parent company of Avon International and The Body Shop, announced it has entered into a binding agreement with private investor Aurelius Group to sell The Body Shop. The deal, which is anticipated to have an enterprise value of $254 million, follows Natura &Co’s $2.5 billion sale of Aesop to cosmetics giant L’Oreal earlier this year.
“Refocused, deleveraged and leaner, Natura &Co will now be able to fully concentrate on its core relationship selling expertise in Latin America while also continuing the optimization of Avon International’s footprint,” said Fábio Barbosa, Group CEO of Natura &Co.
Barbosa described the deal as “another important step in Natura &Co’s new development cycle to unlock significant value,” and analysts expect proceeds from the sale to create significant dividends for stockholders.
