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L'Oréal to acquire Australian beauty brand Aesop

The transaction will close in the third quarter of the year.

L'Oréal has entered an agreement with Brazil-based cosmetics group Natura &Co to acquire Australian beauty brand Aesop for $2.525b.

In a statement, Aesop owner Natura &Co said the transaction is expected to close by the third quarter of 2023.

The transaction will allow Natura &Co to “strengthen and deleverage its balance sheet, freeing up resources to focus on its strategic priorities.”

READ MORE: L'Oréal invests in biotech for sustainable beauty

"The divestment of Aesop marks a new development cycle for Natura &Co. With a strengthened financial structure and a deleveraged balance sheet, Natura &Co, exercising strict financial discipline, will be able to sharpen its focus on its strategic priorities, notably our investment plan in Latin America,” said CEO Fabio Barbosa. 

“We will also be able to concentrate on continuing to improve The Body Shop's business and refocusing Avon International's footprint,” he added.

Natura &Co also owns Avon, Natura, and The Body Shop.

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