Brazilian takeover of The Body Shop confirmed

L’Oréal has officially confirmed the sale of its British subsidiary The Body Shop to Brazilian Natura Cosméticos. The deal was signed this week, is estimated to be worth 1 billion euro and should be finalized before the end of the year.

Deal worth 1 billion

The Body Shop, founded in 1976, currently has more than 3,000 stores in 66 countries. L’Oréal had paid 652 million British pounds (close to 1 billion euro) in 2006, but put it up for sale in February after another abysmal performance: turnover dropped nearly 5 % and losses were compounded.

Brazilian Natura Cosméticos, with a 2.17 billion euro turnover, has bought the chain and hopes its integration will lead to a “worldwide green cosmetics company” with a 3.1 billion euro turnover.