According to Bloomberg, L'Oréal announced that it has signed an acquisition agreement worth $2.53 billion (approximately 3.3092 trillion won) with Natura & Co., the Brazilian company that operates Aesop. The deal involves the transfer of Natura & Co.'s stake in Aesop to L'Oréal. The acquisition is expected to be finalized in the third quarter.
Aesop is a skincare brand that originated in Australia in 1987. With its luxury and eco-friendly concepts, it has gained popularity not only in Korea but globally. Natura & Co., a giant Brazilian beauty company, acquired the brand in 2013 and has operated it for 10 years. With sales of $173 million (approximately 226.2 billion won) in the fourth quarter of last year, it is the most profitable of Natura & Co.'s brands. It is reported that several beauty companies, including Louis Vuitton Moët Hennessy (LVMH), L'Oréal, and Shiseido, have entered the bidding war following Natura & Co.'s announcement of its intention to sell its stake in Aesop.
L'Oréal CEO Nicolas Hieronymus announced the acquisition of Aesop, stating, “We will contribute to helping Aesop realize its growth potential in the Chinese and duty-free markets.”
Source: Hankyung
Wow... Aesop is getting acquired.
I heard that L'Oréal is the one eating it.
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