L’Oréal signs an agreement with Natura &Co to acquire Aēsop
Clichy, 3 April 2023 – L’Oréal announced today
that it has signed an agreement with Natura &Co to acquire
Aēsop, the Australian luxury beauty brand.
The proposed transaction values Aēsop at an enterprise value of
USD 2.525 billion.
Created in 1987, Aēsop is world widely renowned for its skin,
hair and body products. With its signature amber packaging,
plant-based ingredients, sustainable vegan formulations, and its
bespoke customer service, Aēsop has evolved into a global super
brand available across luxury retail, beauty, and hospitality
locations around the world.
Aēsop currently operates around 400 points of sale across the
Americas, Europe, Australia, New Zealand, and Asia, with a nascent
footprint in China where the first store opened in 2022.
The brand posted sales of USD 537 million in 2022.
Nicolas Hieronimus, Chief Executive Officer, L’Oréal
Groupe, said, “I am very excited to welcome Aēsop and its
teams to the L’Oréal Groupe family. 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. Aēsop taps
into all of today’s ascending currents and L’Oréal will contribute
to unleash its massive growth potential, notably in China and
Travel retail.”
Commenting on the acquisition, Cyril Chapuy, President
of L’Oréal Luxe, added, “My Team and I are thrilled to
have Aēsop join the L’Oréal Luxe portfolio of iconic global brands.
Aēsop holds a very unique positioning on the global luxury beauty
market thanks to its design led brand essence, its highly
efficacious and sensorial products as well as its customer-obsessed
retail philosophy. We look forward to welcoming Aēsop’s CEO Michael
O’Keeffe and his experienced and passionate teams to continue to
grow together the brand’s remarkable potential, by carrying on
cultivating its uniqueness and its values. We have great confidence
that Aēsop will join the L’Oréal Luxe Billionaire brands club and
therefore contribute significantly to the growth of the Division in
the years to come.”
Fábio Barbosa, Chief Executive Officer of Natura
&Co, said: “The divestment of Aēsop marks a new
development cycle for Natura &Co. With a strengthened financial
structure and a deleveraged balance sheet, Natura &Co,
exercizing strict financial discipline, will be able to sharpen its
focus on its strategic priorities, notably our investment plan in
Latin America. We will also be able to concentrate on continuing to
improve The Body Shop’s business and refocusing Avon
International’s footprint. We are proud of the remarkable success
of the Aēsop brand, and we are extremely grateful to all Aēsop’s
associates, who contributed immensely not only to Aēsop’s success,
but also to making Natura &Co what it is today. We are
confident that Aēsop’s growth story will continue under the
ownership of L’Oréal and wish Aēsop continued success in this new
chapter.”
The closing is subject to certain regulatory approvals and other
customary conditions.
About L’Oréal
For over 110 years, L’Oréal the world’s leading beauty player,
has devoted itself to one thing only: fulfilling the beauty
aspirations of consumers around the world. Our purpose - to create
the beauty that moves the world - defines our approach to beauty as
inclusive, ethical, generous, and committed to social and
environmental sustainability. With our broad portfolio of 36
international brands and ambitious sustainability commitments in
our L’Oréal For The Future program, we offer each and every person
around the world the best in terms of quality, efficacy, safety,
sincerity, and responsibility, while celebrating beauty in its
infinite plurality.
With 87,400 committed employees, a balanced geographical
footprint, and sales across all distribution networks (e-commerce,
mass market, department stores, pharmacies, hair salons, travel
retail and branded boutiques) in 2022 the Group generated sales
amounting to 38.26 billion euros. L'Oréal relies on 20 research
centers across 11 countries around the world, a dedicated Research
and Innovation team of 4,000 scientists and over 5,500 tech and
digital professionals, to invent the future of beauty and become
the champion of Beauty Tech.
More information on https://www.loreal.com/en/mediaroom
This press release does not constitute an offer of sale or
solicitation of an offer to purchase L'Oréal shares. If you wish to
obtain more comprehensive information about L'Oréal, please refer
to the public documents registered in France with the Autorité des
Marchés Financiers, also available in English on our website
www.loreal-finance.com. This press release may contain forecast
information. While the Company believes that these statements are
based on reasonable assumptions as of the date of publication of
this press release, they are by nature subject to risks and
uncertainties which may lead to a discrepancy between the actual
figures and those indicated or suggested in these statements.”
About Aēsop
Aēsop is an aspirational, luxury brand, that provides
efficacious and sensorial products across multiple beauty and
wellness categories, including hair, body, skin, home, and
fragrance. Since its creation in 1987, Aēsop has delivered
significant organic growth while maintaining its strong brand ethos
and staying true to its core social and environmental values. Its
global footprint of over 395 uniquely designed locations, elegant
customer experience and purpose-driven approach have proven
particularly attractive to a loyal and expanding community of
customers, and the company is now well positioned to become a
pioneer in the luxury beauty space. Aēsop is proudly a Certified B
Corporation®
CONTACTS
L’ORÉAL
Switchboard
+33 (0)1 47 56 70 00
Individual shareholders and market
regulators
Pascale GUERIN
+33 (0)1 49 64 18 89
Pascale.guerin@loreal.com
Financial analysts and institutional
investors
Françoise LAUVIN
+33 (0)1 47 56 86 82
Francoise.lauvin@loreal.com
Médias
Noëlle CAMILLERI
+33 (0)6 79 92 99 39
Noelle.camilleri@loreal.com
Christine BURKE
+33 (0)6 75 54 38 15
Christine.burke@loreal.com
For further information, please contact your bank, stockbroker
of financial institution (I.S.I.N. code: FR000012031), and consult
your usual newspapers or magazines or the Internet site for
shareholders and investors, www.loreal-finance.com, the L’Oréal
Finance app or call the toll-free number from France: 0 800 66 66
66. 0 800 66 66 66
Follow us on Twitter @lorealgroupe
www.loreal.com
- PR_L’OREAL SIGNS AN AGREEMENT WITH NATURA &CO TO ACQUIRE
AESOP
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