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☆ Brazil's Natura mulls sale of The Body Shop
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

The logo of British cosmetics and skin care company The Body Shop is seen outside a store in Vienna, Austria, June 4, 2016. REUTERS/Leonhard Foeger Acquire Licensing RightsSAO PAULO, Aug 28 (Reuters) - Brazilian cosmetics maker Natura &Co (NTCO3.SA) said on Monday its board of directors had authorized the company to search for "strategic alternatives" for its subsidiary The Body Shop, including a potential sale of the business. The move comes after the Brazilian company in April agreed to sell its luxury brand Aesop to French cosmetics group L'Oreal (OREP.PA) at an enterprise value of $2.53 billion. Natura grew through high profile acquisitions in recent years, including the purchase of The Body Shop from L'Oreal in 2017, but has now been looking for "discipline" and deleveraging as it aims to bring back profitability. "There can be no assurance that this process will result in any transaction," Natura said in a securities filing about the potential Body Shop deal.

Persons: Leonhard Foeger, Roberto Marques, Fabio Barbosa, Gabriel Araujo, Kylie Madry Organizations: REUTERS, SAO PAULO, Natura, L'Oreal, Thomson Locations: Vienna, Austria, Brazilian, Natura

☆ L'Oreal buys luxury brand Aesop from Brazil's Natura for $2.5 billion
▼ + stars: | 2023-04-04 | by ( ) www.cnbc.com time to read: +1 min

Aesop products sit on display for sale at their store on Abbott Kinney Blvd. French cosmetics group L'Oreal struck a deal with Brazil's Natura & Co to buy Aesop, its Australian luxury brand, at an enterprise value of $2.53 billion, both firms said on Monday. The deal expands L'Oreal's presence in the luxury cosmetics market, while marking a financial relief for the Brazilian firm, burdened by shrinking margins and heavy debt. "Aesop taps into all of today's ascending currents and L'Oreal will contribute to unleash its massive growth potential, notably in China and travel retail," L'Oreal CEO Nicolas Hieronimus said in a statement. For Natura, the deal adds to a broader organizational shakeup that saw former chief executive and executive chairman Roberto Marques step down in June last year, handing over the reins to Fabio Barbosa.

☆ Aesop deal spreads scent of stressed M&A
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +2 min

TORONTO, April 4 (Reuters Breakingviews) - The scent of stress is wafting from the Brazilian backer of Aesop. Natura (NTCO3.SA)agreed to sell the luxury lotion maker to French cosmetics giant L’Oreal (OREP.PA) for about $2.5 billion. It offloaded the successful investment to shore up its balance sheet, an M&A motivation that probably will spread. With recessions being anticipated in a higher interest rate environment, more companies are bound to consider a similar calculus. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ L’Oréal buys Aesop in $2.5 billion deal, its biggest acquisition ever
▼ + stars: | 2023-04-04 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —L’Oréal is buying Australian brand Aesop in a deal that values it at $2.5 billion, in the biggest brand acquisition ever made by the French beauty giant. The sale was announced Monday by Aesop’s parent, Brazilian firm Natura & Co, which also owns The Body Shop and Avon. It brings Aesop, which is known for its luxury skin and body care products, under the same umbrella as brands such as Garnier and Maybelline. The deal would be L’Oréal’s largest acquisition of another brand on record, followed by its $1.7 billion purchase of YSL Beauté in 2008, according to data from Dealogic. “Aesop taps into all of today’s ascending currents,” L’Oréal CEO Nicolas Hieronimus said in the statement.

☆ L'Oreal buys luxury brand Aesop from Brazil's Natura for $2.5 bln
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of French cosmetics group L'Oreal in the western Paris suburb of Levallois-Perret, France, February 7, 2020. REUTERS/Gonzalo FuentesSAO PAULO, April 3 (Reuters) - French cosmetics group L'Oreal (OREP.PA) struck a deal with Brazil's Natura & Co (NTCO3.SA) to buy Aesop, its Australian luxury brand, at an enterprise value of $2.53 billion, both firms said on Monday. The deal, L'Oreal's largest ever brand acquisition according to Dealogic data, expands the firm's presence in the luxury cosmetics market, while also providing the Brazilian company with some financial relief amid shrinking margins and heavy debt. The acquisition is also the third largest on record of an Australian company in the consumer products sector, the data showed. "Aesop taps into all of today's ascending currents and L'Oreal will contribute to unleash its massive growth potential, notably in China and travel retail," L'Oreal CEO Nicolas Hieronimus said in a statement.

☆ Brazil's Natura swings to loss as revenue shrinks across cosmetics lines
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, March 13 (Reuters) - Brazilian cosmetic maker Natura & Co (NTCO3.SA) on Monday reported a fourth-quarter net loss of 890.4 million reais ($169.7 million), as it reported lower revenues across all its business lines. Natura reported net revenues down 11% at 10.39 billion reais, dragged by Avon International and The Body Shop which both posted reported revenues down more than 20%. However, in terms of constant currency, net revenues increased by 3%. In a statement, Chief Executive Fabio Barbosa said the company was "resizing" The Body Shop, focusing on "efficiencies and key retail channels in light of the challenging channel mix changes that have taken place." Looking ahead, he added, Natura is focusing on improving profitability, cash flow, and making a return to growth.

☆ Brazil's Natura mulls U.S. IPO, spin-off of luxury Aesop brand
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Oct 17 (Reuters) - Brazilian cosmetics company Natura & Co (NTCO3.SA) on Monday said it has begun studying a possible initial public offering (IPO) in the United States or spin-off of its Aesop brand, as it looks to fund its expansion. Natura said that in the event of an IPO or spin-off the luxury cosmetics brand would continue to be led by its current chief executive, Michael O'Keeffe. Natura reported a wider-than-expected quarterly net loss in August, as inflation and tough market conditions put pressure on in its margins. It said at the time it planned to increase the accountability of its business units after years of expansion fueled by high-profile acquisitions. Register now for FREE unlimited access to Reuters.com RegisterReporting by Peter Frontini; Editing by Mark Porter and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

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