A branch of The Body Shop in central London, U.K., on April 24, 2017.
Jason Alden—Bloomberg via Getty Images
By Reuters
June 9, 2017

French cosmetics and luxury goods group L’Oreal (loreal-s-a) has started talks with Brazilian make-up company Natura Cosmeticos (nuacf) over selling its Body Shop business, L’Oreal said on Friday.

L’Oreal added in a statement that the companies’ proposed transaction placed an enterprise value of $1.1 billion on The Body Shop business.

L’Oreal said earlier this year that it was reviewing its strategy for The Body Shop, which it bought for $840 million in 2006, and the sale of the business had attracted a wide range of bidders.

For more on retail, watch Fortune’s video:

Founded in 1976 by British entrepreneur Anita Roddick, the company was a pioneer in the ethical beauty industry but has since fallen victim to increased competition from newcomers also offering similar products based on natural ingredients and no animal-testing.

SPONSORED FINANCIAL CONTENT

You May Like

EDIT POST