By THE NEW YORK TIMES
June 9, 2017
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L’Oréal Looks to Sell The Body Shop
L’Oréal, the French cosmetics and luxury goods company, said on Friday that it had entered into exclusive talks to sell The Body Shop retail chain to Natura Cosméticos of Brazil.
The potential transaction would value The Body Shop at 1 billion euros, or about $1.1 billion.
The decision to sell the business followed an “extensive review” of strategic options for The Body Shop, which L’Oréal acquired in 2006, L’Oréal said.
The Body Shop was founded in 1976 in Britain and operates in more than 60 countries. It reported retail sales of €1.5 billion in 2016.
The transaction would be subject to regulatory approval and would be expected to close later this year.
Shares of L’Oréal were up less than 1 percent in trading in Paris on Thursday morning. — CHAD BRAY