Will acquire a 65% stake for AUD $68m
Brazil’s Natura Cosméticos SA has entered into a definitive agreement under which Natura will acquire a 65% stake in Australian personal care brand Aesop for AUD $68m in cash, which includes the anticipated acquisition of Aesop’s distributors.
The investment by Natura will support Aesop’s current management team as they continue to accelerate the growth of the brand internationally but Aesop will continue to be run by its current ceo Michael O’Keeffe and will remain headquartered in Melbourne. Founder Dennis Paphitis will remain involved with the company as an advisor following the close of the transaction.
Upon closing, Natura and Aesop will continue to operate independently but both will share competencies and regional expertise, which could lead to Aesop potentially entering the Brazilian market and Natura exploring the concept of signature stores in select markets.
Natura ceo Alessandro Carlucci said: “We have great respect for Aesop and are delighted to be partnering with such an innovative organisation that shares our values, vision and commitment to using the highest quality botanical ingredients. The investment in Aesop is consistent with our long term strategy of aligning with world class brands with strong value propositions and exposure to markets beyond Latin America.” Although he added: “Natura remains fully committed to the direct selling channel in Latin America, which continues to gain market share and expand globally.”
“We are excited to partner with Natura, a company with similar brand attributes and a culture dedicated to improving the lives of its people and the communities where it operates,” commented Aesop’s O’Keeffe.