Following reports early this month that Natura & Co was in talks to sell The Body Shop, ProCollective can now confirm the sale has now been finalised.  

The deal, expected to close next month pending approval from competition and regulatory authorities, values The Body Shop at £207 million (NZD $429 million), including an earn-out of $112 million, under certain conditions.

Natura & Co. acquired The Body Shop from L’Oréal in 2017 for $1.04 billion but decided to sell it off after selling its Aesop business to L’Oréal for $2.4 billion earlier this year.

Headquartered in London and employing around 7,000 staff, The Body Shop operates in 89 markets, with over 900 company-owned stores in 20 countries and partnerships with franchisees running approximately 1,600 franchised stores across 69 other geographies. The brand has been B-Corp certified since 2019, reflecting its commitment to socially responsible practices.

Aurelius, known for its expertise in complex transactions and operational improvements, expressed its intention to collaborate with The Body Shop’s management team. They plan to leverage their experience in the omni-channel retail and wholesale markets to drive operational excellence across the group. Despite the challenging retail market, Aurelius believes there is an opportunity to revitalise the business and tap into positive trends in the high-growth beauty market.

Ian Bickley, CEO of The Body Shop, sees this as a historic moment and an opportunity to continue building the brand’s relevance for future generations.

“We are deeply grateful to Natura & Co for their unwavering support, and I’m looking forward to working hand in hand with Aurelius as we adapt and flourish in new global retail environments, always with an eye on sustainable and profitable growth,” he stated.

Aurelius partner Tristan Nagler, echoed Bickley’s sentiments. “We are delighted to be undertaking this acquisition of an iconic British brand, which pioneered the cruelty-free and natural ingredient movement in the health and beauty market.”