Natura & Co explores minority stake sale of Aēsop
Natura & Co is reportedly considering selling a minority stake in its Aēsop brand, according to Bloomberg.
CVC Capital Partners, as well as beauty groups L’Occitane and Shiseido, are said to have shown interest in the deal.
The Brazilian beauty company was initially exploring an initial public offering (IPO) for Aesop, but is now leaning toward a minority stake sale because of unfavourable equity markets. The process is still in initial stages of consultation and no decision has yet been made.
The news follows Natura & Co’s corporate reorganisation, which saw roles including Sustainable Growth Officer and Chief Transformation Officer no longer exist or revisited in the new structure.
At the time, the group said: "Despite the challenging times the world is facing, we trust in the strength of our purpose, and support the restructuring of our group, with more autonomy and accountability for each of our businesses."
The group's CEO and Chairman, Roberto Marques, also stepped down earlier this year. He remains on the Board of Directors to help the transition until the end of the year. Fabio Barbosa then took over from Marques to lead the company.
In its latest financial results, Natura & Co saw revenue rise 2.2% at constant currency to £1.44 billion (R$9 billion) in the third quarter. Aesop reported a 21.5% increase in net revenue, with all regions except Europe delivering double-digit growth.