L’Oréal has finalised an agreement to acquire beauty brand Aēsop for around $2.5 billion.

The Australian brand, which is owned by Natura &Co, the parent company of the Body Shop, reported sales totalling $537 million in 2022.

Aēsop currently operates around 400 points of sale globally and entered the Chinese market in 2022.

The brand has several outlets across London including a site in Covent Garden. Its products are also sold in John Lewis.

L’Oréal noted that the closing is subject to certain regulatory approvals and other customary conditions.

Commenting on the new deal, Nicolas Hieronimus, chief executive of L’Oréal said: “Aēsop is the epitome of avant-garde beauty, whose products are not only made with great care and exceptional attention to detail; they are a superb combination of urbanity, hedonism and undeniable luxury.”

Hieronimus added that under L’Oréal’s ownership, the brand will have the right guidance to unleash its “massive growth potential”.

Fábio Barbosa, chief executive of Natura &Co said the divestment of Aēsop marks a new development cycle for the company in which it will “sharpen its focus” on its strategic priorities including expansion into Latin America.

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