Paris, April 4, (dpa/GNA) – Australian luxury beauty brand Aesop has been bought by French cosmetics group L’Oréal in a $2.5 billion deal, the company announced Tuesday.
L’Oréal said it had signed an agreement with Brazil’s Natura & Co to buy the brand at an enterprise value of $2.525 billion.
The transaction is still subject to customary regulatory approvals and is expected to close in third quarter 2023.
Created in 1987, Aesop 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.
In 2012 it was sold to Natura & Co, which also owns Avon and The Body Shop.
The brand posted sales of $537 million in 2022.
GNA