On November 14, Natura & Co has announced its decision to sell The Body Shop to private equity firm Aurelius Investment in a deal that values the renowned chain at 207 million pounds. The transaction, which was revealed on Tuesday, is expected to be finalized by the end of the year, pending customary regulatory approvals.
Tristan Nagler, a partner at Aurelius Investment, expressed enthusiasm about the acquisition, stating, “We are delighted to be undertaking this acquisition of an iconic British brand, which pioneered the cruelty-free and natural ingredient movement in the health and beauty market.” Nagler also expressed excitement about collaborating with CEO Ian Bickley and his team to drive operational improvements and revitalize the business, aiming to bring about a new era of success for The Body Shop.
This move by Natura & Co aligns with their efforts to streamline operations and simplify their businesses. Previously, they sold Aesop to L’Oréal, allowing them to focus on strategic priorities, particularly the integration of Natura and Avon in Latin America. The decision to sell The Body Shop will enable Natura & Co to concentrate on these key initiatives.
In the most recent financial results released on Tuesday, The Body Shop faced challenges in terms of its top-line performance. Net revenue experienced a decline of 15 percent in the third quarter, amounting to 829.4 million Brazilian reals.
Despite these challenges, Bickley, the CEO of The Body Shop, expressed optimism about the sale, remarking, “Today, we celebrate a truly historic moment for The Body Shop as we join forces with Aurelius to begin a new chapter, allowing us to continue building the relevancy of this global brand for future generations.” Bickley emphasized the significant presence of The Body Shop in over 80 countries and its status not only as a beauty brand but also as an iconic social business that has captured the hearts of people worldwide.