The Body Shop’s surprise buyer Natura Cosmeticos has now completed its acquisition of the health and beauty retailer, after being granted permission by the relevant competition watchdogs.
Its previous owner L’Oreal sold the British high street retailer on June 9 in a deal thought to be worth US$880 million.
The buyer, Brazil’s largest cosmetics company, will now add The Body Shop’s global estate to its already significant operations.
Following the acquisition Natura will trade from 3,200 stores in nearly 70 markets, employing around 18,000 staff.
“We are thrilled to welcome The Body Shop to the Natura group,” co-chairman Guilherme Leal said.
Full Content: Retail Week
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
