Brazil's Natura sells The Body Shop to Aurelius in $254 mln deal (updated)
14/11/2023 11:32
(Adds details, background in paragraphs 2-3)
SAO PAULO, Nov 14 (Reuters) - Brazilian cosmetics maker
Natura &Co NTCO3.SA said on Tuesday it has signed a binding
agreement to sell subsidiary The Body Shop to private investor
Aurelius Group in a deal with an enterprise value of 207 million
pounds ($254.32 million).
Natura said the agreement includes a potential earn-out of
90 million pounds, adding that both the sale price and the
earn-out would be paid in up to five years after closing of the
transaction.
The move represents the second major divestment by
Natura this year as part of a broader organizational shakeup,
following a
deal
announced in April to sell luxury brand Aesop to L'Oreal
OREP.PA at an enterprise value of $2.53 billion.
($1 = 0.8139 pounds)
(Reporting by Gabriel Araujo; Editing by Steven Grattan)
((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))