Melbourne-based skincare group Aesop has been offloaded by its Brazilian parent, Natura & Co, to global giant L’Oreal in a deal that values the Australian-founded company at $US2.53 billion ($3.7 billion), including debt.
The deal, the largest for any luxury brand in Australia, is tipped to close in the third quarter of 2023.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
