Brazil's Natura wants to buy Body Shop from L'Oreal

AP News
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Posted: Jun 09, 2017 9:03 AM

PARIS (AP) — Brazilian cosmetics maker Natura is looking to buy The Body Shop from French owner L'Oreal for about 1 billion euros ($1.1 billion).

Natura and L'Oreal said in statements Friday they are in "exclusive discussions" about the acquisition, which is subject to regulatory approval.

L'Oreal, which bought The Body Shop in 2006, said earlier this year it was exploring options for the U.K.-based company, which hasn't performed as well as its parent company.

The move is part of Natura's efforts to expand internationally. While The Body Shop became known for its activist efforts against animal testing, Natura is known for environmental and social efforts.

Natura said the combined company would have 17,000 employees.