Natura &Co will sell The Body Shop to Aurelius for £207 million ($257.8 million) in a transaction expected to close by Dec. 31, 2023, subject to customary regulatory approvals. Aurelius has retail experience through investments in Footasylum, a UK-based fashion streetwear retailer, and global catering group LSG Sky Chefs. The private equity group is seeking to enhance ESG aspects in its portfolio and is committed to maintaining The Body Shop’s distinctive values, instilled by its founder, Dame Anita Roddick.
Under Natura &Co’s ownership since 2017, The Body Shop redesigned its stores and enhanced the customer experience via its Changemaking Workshop. The retailer, which became a certified B Corp. in 2019, added makeup to its product refill program, designed to reduce plastic waste, in March 2023 after bringing the program to its U.S. stores in April 2022.
“Today we celebrate a truly historic moment for The Body Shop as we join forces with Aurelius to begin a new chapter, allowing us to continue building the relevancy of this global brand for future generations,” said Ian Bickley, CEO of The Body Shop in a statement. “With a presence in over 80 countries, The Body Shop is not only a beauty brand but also an iconic social business that has captured hearts in nearly every corner of the world. 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.”
Natura &Co, which includes the Natura and Avon brands, will now focus on its selling expertise in Latin America while continuing to optimize Avon International’s footprint. “We are pleased to have found a strong home for The Body Shop to write the next chapter in its remarkable story, and we extend our sincerest thanks to all The Body Shop’s associates, who contributed immensely to broadening Natura & Co’s horizons,” said Fabio Barbosa, CEO of Natura &Co in a statement.