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Natura has set its operating value at US$2.5 billion (approximately €2.3 billion). The transaction is expected to close in the third quarter.
Natura wants to focus more on The Body Shop and Avon brands. In 2013, Brazilians took over the majority of the Aesop brand founded in Australia. Aesop had $537 million in sales last year. Natura had previously considered selling the brand in whole or in part.
L’Oreal had sales of around 38.3 billion euros last year and is looking to expand its luxury care business with Aesop. The head of the luxury division, Cyril Chapuy, was confident that Aesop would make a significant contribution to the growth of the business in the coming years and exceed the one billion mark in sales. The takeover still needs to be approved by the authorities.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
