Natura Cosmeticos, the Brazilian leader in the cosmetics industry with an estimated $2.5 billion in 2015 revenue, announced that it has finalized the acquisition of The Body Shop from French group L’Oréal after achieving permission by the competition watchdogs, according to UK media reports in September.
B Corp said that the deal, which marks the first billion-dollar B Corp acquisition, brings together three brands—Natura, The Body Shop, and Aesop—all committed to ethical business practices, sustainability and making a positive social impact.
Combined, the three brands have operations in almost 70 countries; around 18,000 employees; 3,200 stores with a network of franchisees; and a sales force of 1.8 million independent sales representatives, B Corp said.
Guilherme Leal, co-chairman of the Board of Directors of Natura, said: “We are thrilled to welcome The Body Shop to the Natura Group."
“This alliance creates a combination of companies that share a common purpose that goes way beyond usual businesses. A new force for good is taking shape.”
The deal was announced in June to be worth around GBP880 million (USD1.2 billion).
BBC News reported that L'Oreal has owned The Body Shop for the past 11 years. The Body Shop was established in the UK in 1976 by the late Dame Anita Roddick.
"She and her company pioneered the manufacturing and selling of cosmetics that have not been tested on animals and which use natural ingredients," BBC News said.
The Body Shop is now one of the world's biggest cosmetics chains with 3,000 stores in 66 countries.
L'Oreal bought the business for around 940m euros in 2006 at the height of its success, but it has failed to thrive since.
Echoing the ethical stance of The Body Shop, Natura says its aim is to "improve the environment and society". Sustainable development has been the company's guiding principle since it was founded in 1969.
In 2013, Natura started to branch out globally when it bought the Australian Group Aesop.
Natura Brasil is the country's number one cosmetics manufacturer and leader in the direct sales sector. Based in Cajamar, São Paulo, the company employs around 7000 staff in seven countries: Brazil, Argentina, Chile, Mexico, Peru, Colombia, and France.
A passion for customer relations led the company to adopt direct sales as its main commercial strategy. At present, more than 1,421,000 Consultants - including 1,175,000 in Brazil and around 246,000 abroad - promote the company's values and products to consumers.