L’Oreal to Buy Skincare Brand Aesop in $2.5 Billion Deal
- French buyer will add Aesop to luxury unit alongside Lancome
- Deal allows Natura to cut debt as CEO leads broad overhaul
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French skincare giant L’Oréal SA has agreed to acquire luxury cosmetics brand Aesop, which was founded in Melbourne before developing a cult global following, for an enterprise value of $2.53 billion.
The transaction caps months of negotiations as other companies, including private equity firm Permira and Chinese investment firm Primavera Capital also showed interest in the Australian brand, owned by Brazil’s Natura & Co., people familiar with the matter told Bloomberg last month.