Natura & Co is officially selling The Body Shop to personal equity firm Aurelius Investment in a deal valuing the chain at 207 million kilos, it was revealed Tuesday.

The closing of the transaction is anticipated to occur by yearend and is subject
to customary regulatory approvals.

“We’re delighted to be undertaking this acquisition of an iconic British brand, which pioneered the cruelty-free and natural ingredient movement within the health and wonder market,” said Tristan Nagler, partner at Aurelius. “We look ahead to working with CEO Ian Bickley and his team to drive operational improvements and re-energize the business, and help to deliver the subsequent chapter of success.”

In accordance with São Paulo-based Natura, this is a component of its efforts to streamline operations and
simplify its businesses after having sold Aesop to L’Oréal, in addition to position the group to deal with strategic priorities, notably the combination of Natura and Avon in Latin America.

The move comes just a number of months after a big chief executive officer switch at The Body Shop, when David Boynton abruptly stepped down. 

Boynton had been CEO since 2017, the identical yr that the Brazilian beauty company acquired The Body Shop, which was founded by Anita Roddick in England in 1976, from L’Oréal. 

He was succeeded as interim CEO by Ian Bickley, who was tasked with refining the present marketing strategy and transformation agenda, in addition to with accelerating the road to profitability.

In its most up-to-date results released Tuesday, The Body Shop’s top line remained challenged. Net revenue fell 15 percent in its third quarter to 829.4 million Brazilian reals.

Of the sale, Bickley commented: “Today, we rejoice a really historic moment for The Body Shop as we join forces with Aurelius to start a recent chapter, allowing us to proceed constructing the relevancy of this global brand for future generations. With a presence in over 80 countries, The Body Shop just isn’t only a beauty brand, but in addition an iconic social business that has captured hearts in nearly every corner of the world.”