PARIS, April 4— L’Oreal announced today the signing of an agreement with Brazil’s Natura & Co to acquire its Australian luxury cosmetics brand Aesop in a deal valued at $2.53...
PARIS, April 4— L’Oreal announced today the signing of an agreement with Brazil’s Natura & Co to acquire its Australian luxury cosmetics brand Aesop in a deal valued at $2.53 billion .“Aesop taps into all of today’s ascending currents and L’Oreal will contribute to unleash its massive growth potential, notably in China and travel retail,” L’Oreal CEO Nicolas Hieronimus said in the statement.
The L’Oreal Luxe division, which includes brands such as Lancome, Yves Saint Laurent and Giorgio Armani, was the group’s top performer for the second consecutive year in 2022, with sales climbing 18.6 percent to 14.6 billion euros . “With a strengthened financial structure and a deleveraged balance sheet, Natura & Co, exercising strict financial discipline, will be able to sharpen its focus on its strategic priorities, notably our investment plan in Latin America,” Barbosa said.
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