French cosmetics group L'Oreal struck a deal with Brazil's Natura & Co to buy Aesop, its Australian luxury brand, at an enterprise value of $2.53 billion, both firms said on Monday.
to buy Aesop, its Australian luxury brand, at an enterprise value of $2.53 billion, both firms said on Monday.
The brand, Natura's most profitable, operates almost 400 stores and posted sales of $537 million in 2022, up 21% in constant currency from a year earlier. "Aesop taps into all of today's ascending currents and L'Oreal will contribute to unleash its massive growth potential, notably in China and travel retail," L'Oreal CEO Nicolas Hieronimus said in a statement.
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