L’Oréal finalized a contract on Tuesday to market your body Shop on Brazilian makeup maker Natura Cosméticos whilst seeks to cultivate internationally.
Previously this month, the French cosmetics group had surprised numerous by announcing it had been in unique foretells sell the Uk traditional stalwart to Natura after failing woefully to boost sales.
“L’Oréal announces your contract when it comes to purchase associated with system store to Natura was finalized,” L’Oréal stated in a declaration on Tuesday. “The proposed sale is at the mercy of approval by antitrust authorities notably in Brazil as well as in america, and anticipated to shut during 2017.” The deal provides the British sequence with places around the world an enterprise worth of €1bn.
Natura ended up being started in São Paulo in 1969 by Luiz Seabra and is certainly one of Brazil’s most effective companies. The organization has said that after integrating the human body Shop, founded in 1976 by business owner Anita Roddick, the mixed group might have a turnover of R$11.5bn (US$3.5bn), with 17,000 staff members and 3,200 stores.
Your body store features faced increasing competition from other brands supplying comparable services and products according to 100% natural ingredients without any animal testing. Sourcing nearly all its products through the Amazon rainforest Natura, that also has the Aesop beauty brand, has-been successful in delivering to Brazil’s giant middle-market, it is selecting further growth.
“The purchase for the Body store is a decisive step up making Natura Group an international player within the cosmetic makeup products business, following in footsteps of your past purchase of Aesop in 2013,” said João Paulo Ferreira, Natura’s leader, during a seminar telephone call following the statement was made on Summer 9.
“in this way, Natura together with Body Shop are just like twins. We have been walking parallel paths before, now, those routes tend to be converging. We both share an exact same sight of makeup, advocating employing 100 % natural ingredients, seeking to make use of our business as a platform to raise environmental awareness,” he added.