L’Oreal buys Australian owned Aesop skincare maker for $2.25bn

For the Brazilian beauty firm Natura, the transaction will help cut debt and focus on turning around other businesses.

The transaction caps months of negotiations as other companies, including private equity firm Permira and Chinese investment firm Primavera Capital also showed interest in the Australian brand.

French skincare giant L’Oréal has agreed to acquire luxury cosmetics brand Aesop, which was founded in Melbourne before developing a cult global following, for $2.53bn (€2.32bn).

The transaction caps months of negotiations as other companies, including private equity firm Permira and Chinese investment firm Primavera Capital also showed interest in the Australian brand, owned by Brazil’s Natura & Co, people familiar with the matter told Bloomberg last month.