The Brazilian beauty retailer Natura is negotiating to buy The Body Shop. In February 2017, the Body Shop (3,000 stores, sales of €921 million in 2016, a fall of 5%) was put up on sale by L’Oréal and valued between €780 million and €1 billion. Many investors are competing to purchase The Body Shop, including CJ Group from South Korea.
Natura and The Body Shop have both built a business on sustainable and natural cosmetic ingredients. With this external growth opportunity, Natura’s total...