Brazil: Natura finalizes The Body Shop deal
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Natura Cosmeticos, the Brazilian leader in the cosmetics industry has finalized the acquisition of The Body Shop from French group L’Oréal after achieving permission by the competition watchdogs.
L'Oreal has bought The Body Shop for around 940m euros in 2006 at the height of its success, but it has failed to thrive since.The deal between Natura and L´Oréal was announced in June to be worth around GBP880 million (USD1.2 billion). In 2013, Natura started to branch out globally when it bought the Australian Group Aesop.
Natura Brasil is the country's number one cosmetics manufacturer and leader in the direct sales sector. Based in Cajamar, São Paulo, the company employs around 7000 staff in seven countries: Brazil, Argentina, Chile, Mexico, Peru, Colombia, and France. Direct sales is Natura´s main commercial strategy. At present, more than 1,421,000 Consultants - including 1,175,000 in Brazil and around 246,000 abroad - promote the company's values and products to consumers.
The deal, which marks the first billion-dollar B Corp acquisition, brings together three brands: Natura, The Body Shop, and Aesop, all committed to ethical business practices, sustainability and making a positive social impact. Combined, the three brands have operations in almost 70 countries; around 18,000 employees; 3,200 stores with a network of franchisees; and a sales force of 1.8 million independent sales representatives, B Corp said.