Melbourne-born personal care brand Aesop has been sold by parent company Natura to L’Oreal for a staggering AU$3.7 billion, with the deal expected to close in the third quarter of 2023, according to the Guardian.
The sale marks the largest such transaction for any luxury brand in Australia, offering Aesop’s parent company, Brazil’s Natura, to wipe its debts and focus on The Body Shop and Avon Worldwide.
Aesop had come to be seen as the standout brand under the Natura umbrella. The sale, which was overseen by Bank of America and Morgan Stanley, will allow Natura to expand its core demographic across Latin America.
Founded in Melbourne in 1987, Aesop has garnered legions of fans for its plant-based skin and hair care products, scents and elegant, minimalist design, with 247 stores around Australia and the world.
