Natura &Co will sell The Body Shop (TBS) to pan-European alternative investment firm Aurelius in a deal with an enterprise value of £207m ($259m), including an earn-out of £90m, to be paid within five years of the transaction’s close. According to Natura’s 14 November announcement, the move is another step toward simplifying operations and refocusing on strategic priorities, namely accelerating the integration of the Natura and Avon brands in Latin America, dubbed “Wave 2,” supporting its core relationship selling model, and further optimizing Avon International’s footprint. It follows Natura’s sale of Australian luxury beauty brand Aesop to L’Oreal SA for $2.52bn, a deal that closed in August. (Also see "L’Oréal Plans Largest Deal: $2.52Bn For Aesop" - HBW Insight, 4 April, 2023.)
Natura says TBS’ product portfolio and brand have been overhauled since it acquired the company from L’Oreal in 2017. Those efforts have included “a more contemporary redesign of its stores, with the Changemaking Workshop that enhanced stores and customer experience worldwide, and of its refill program, now in place in nearly 800 stores