french cosmetics group loreal struck a deal with brazils natura co to buy aesop its australian luxury brand at an enterprise value of 253 billion both firms said on monday the deal loreals largest ever brand acquisition according to dealogic data expands the firms presence in the luxury cosmetics market while also providing the brazilian company with some financial relief amid shrinking margins and heavy debt the acquisition is also the third largest on record of an australian company in the consumer products sector the data showed the brand naturas most profitable operates almost 400 stores and posted sales of 537 million in 2022 up 21 in constant currency from a year earlier advt it also reported doubledigit growth across all its regions last year and said it had entered the chinese market with strong performance that exceeded expectations aesop taps into all of todays ascending currents and loreal will contribute to unleash its massive growth potential notably in china and travel retail loreal ceo nicolas hieronimus said in a statement for natura the deal adds to a broader organizational shakeup that saw former chief executive and executive chairman roberto marques step down in june last year handing over the reins to fabio barbosa the firm said the sale will support its financial deleverage and focus on strategic priorities such as the integration of its latin america operations as well as the further optimization of avon internationals footprint and the continued improvement of the body shops business the acquisition which is subject to regulatory approvals will be paid in cash on its closing date expected in the third quarter of 2023 natura said melbourneheadquartered aesop was established in 1987 and offers skin hair and body care products reuters published on apr 4 2023 at 1143 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etretail app get realtime updates save your favourite articles scan to download app l oreal aesop natura body shop avon international roberto marques cosmetics luxury brand homenewsloreal buys luxury brand aesop from brazils natura for 25 bln