PARIS — Natura & Co has entered into an exclusive agreement with Aurelius Investment Advisory Ltd. to potentially sell The Body Shop.

The Brazilian beauty-maker and retailer made the announcement through a company filing Monday afternoon CET. It got here after a weekend of heightened media speculation.

Natura said the terms and conditions of the potential sale remain under negotiation.

In late August, while finalizing the sale of Aesop to L’Oréal in a deal that valued the non-public care brand at $2.5 billion, Natura revealed it was also mulling a sale of The Body Shop.

In a company filing then, the corporate disclosed that its board of directors recently authorized management to explore strategic alternatives for The Body Shop, which can include a possible sale of the business.

“There could be no assurance that this process will end in any transaction,” the filing said. “Natura doesn’t intend to comment on or provide updates regarding this matter unless and until it determines that further disclosure is acceptable or required based on the then-current facts and circumstances.”

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