Brazilian cosmetics maker Natura &Co (NTCO3.SA) said on Monday its board of directors had authorized the company to search for "strategic alternatives" for its subsidiary The Body Shop, including a potential sale of the business.
The move comes after the Brazilian company in April agreed to sell its luxury brand Aesop to French cosmetics group L'Oreal (OREP.PA) at an enterprise value of $2.53 billion.
The deal was part of a broader organizational shakeup that saw former chief executive and executive chairman Roberto Marques step down in June last year, handing over the reins to Fabio Barbosa.
Natura grew through high profile acquisitions in recent years, including the purchase of The Body Shop from L'Oreal in 2017, but has now been looking for "discipline" and deleveraging as it aims to bring back profitability.
"There can be no assurance that this process will result in any transaction," Natura said in a securities filing about the potential Body Shop deal.
