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Natura &Co, the parent company of Avon International and The Body Shop, announced it has entered into a binding agreement with private investor Aurelius Group to sell The Body Shop. The deal, which is anticipated to have an enterprise value of $254 million, follows Natura &Co’s $2.5 billion sale of Aesop to cosmetics giant L'Oreal earlier this year.
Plexus Worldwide, as part of its philanthropic partnership with nonprofit hunger-relief organization Feeding America, announced it will double its donations as it endeavors to reach its goal of donating the equivalent of 40 million meals by the end of the year.
Avon announced a new era for the 137-year-old company with the launch of its first-ever physical retail stores in the UK, scheduled to open in the coming months. The stores will offer approximately 150 products, with the full product portfolio available only through its independent distributors.
Natura &Co announced its financial results for the third quarter of 2023, reporting consolidated net revenue of $1.54 billion, a 0.7% decline from the previous year’s quarter. Natura Latam, which saw a 18.6% improvement in constant currency, as well as a stable trend at Avon International, was offset by a challenging quarter for The Body Shop, which saw a 13.2% decline in constant currency.