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L'Oreal to sell Body Shop to Brazil's Natura in $1.1 bn deal

The proposed deal put an enterprise value of'1 bn euros on the 4 decades old beauty brand

Reuters  |  Paris 

French cosmetics and luxury goods group L'Oreal has started exclusive talks to sell its The Body Shop business to Brazilian make-up company Natura Cosmeticos in a possible $1.1 billion deal. L'Oreal said earlier this year it was reviewing its strategy for The Body Shop, which it bought for 652 million pounds in 2006, and that the sale of the business had attracted a wide range of bidders. On Friday, the company said that it had received a firm offer from Natura Cosmeticos and that the proposed deal put an enterprise value of 1 billion euros on the four decades old beauty ...

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First Published: Fri, June 09 2017. 15:02 IST