L'Oreal Enters Exclusive Negotiations With Natura to Sell The Body Shop; Shares Not Attractive
L’Oreal has entered into exclusive talks with Natura (a Brazilian beauty-care firm) for it to acquire The Body Shop, with the proposed offer valuing the business at an enterprise value of around EUR 1 billion, which equates to 1.1 times sales. Given the challenges the segment has faced--with sales languishing over the past several years, falling nearly 5% in fiscal 2016 and posting only around 2% average annual growth over the past four years, which pales in comparison to the mid-single-digit gr...L'Oreal acts as a holding company. Through its subsidiaries, Co. plays a strategic coordination role and scientific, industrial and marketing coordination role on a global basis. Co. develops, manufactures and commercializes products for Skin care, Hair care, Make-up, Perfumes, Toiletries and deodorants, and Oral cosmetics. Co. has three branches: Cosmetics, Body shop and Dermatology. Co.'s principal activities comprise four divisions: Professional Products, Consumer Products, L'Oreal Luxe and Active Cosmetics. The Body Shop branch offers various cosmetics and toiletry products. The Dermatology branch offers topical dermatology prescription, and corrective and aesthetic dermatology.
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