Brazilian watchdog gives stamp of approval to L'Oréal's deal to acquire Aēsop - Indoors Beauty

Brazilian watchdog gives stamp of approval to L’Oréal’s deal to acquire Aēsop

Brazilian watchdog gives stamp of approval to L’Oréal’s deal to acquire Aēsop

Brazil’s antitrust watchdog, Cade, has given its stamp of approval to the sale of Natura & Co’s model Aēsop to French cosmetics conglomerate L’Oréal.

Under the transaction, L’Oréal will acquire Aēsop for £1.81 billion ($2.525 billion). Cade’s approval of the acquisition is taken into account definitive except an enchantment is filed inside the subsequent 15 days.

Natura & Co started contemplating promoting a minority stake in Aēsop in December 2022. An intense bidding warfare adopted between rival magnificence giants LVMH and Shiseido, however finally L’Oréal topped their presents.

With the transaction, Natura & Co will strengthen and deleverage its steadiness sheet, releasing up sources to concentrate on its strategic priorities, notably the combination in Latin America, in addition to the additional optimisation of Avon International’s footprint and the advance of The Body Shop´s enterprise.

Nicolas Hieronimus, Chief Executive Officer of L’Oréal Group, mentioned: “I’m very excited to welcome Aēsop and its groups to the L’Oréal Group household. Aēsop is the epitome of avant-garde magnificence, whose merchandise aren’t solely made with nice care and distinctive consideration to element; they’re an outstanding mixture of urbanity, hedonism and simple luxurious. Aēsop faucets into all of in the present day’s ascending currents and L’Oréal will contribute to unleash its large progress potential, notably in China and Travel retail.”

Since turning into half of Natura &Co in 2012, Aēsop has posted large progress. Between 2012 and 2022, product sales elevated from $28 million to $537 million. The quantity of shops and counters elevated from 52 to 395 as Aēsop expanded its geographic footprint from 8 markets to 29.

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