L’Oréal announces the acquisition by The Body Shop of 51% of Emporio Body Store in Brazi,l with the option of increasing its shareholding to 80% by 2019.

The acquisition is subject to the approval of the Brazilian Anti-Trust Authority CADE, and should be completed before the end of the year.

Founded in 1997 in Porto Alegre by Tobias Chanan, Emporio Body Store offers a complete range of beauty products sold through a franchise network. Chanan, will remain CEO of the group with the objective to expand the business through the franchise channel.

The Company will propose to Brazilian consumers a range of The Body Shop’s most popular products complemented by new products developed locally with L’Oréal’s Research Centre in Rio de Janeiro, in accordance to The Body Shop’s strict requirements and values.

Emporio Body Store achieved in 2012 a consolidated turnover of 20 million Reals (approximately 7 million euros). Since 2011, when Mr. Helio Seibel (Grupo Ligna) became the major shareholder, the business has grown strongly and increased from 36 points of sale in 2010 to 84 in 2012, to reach an estimated 130 points of sale end of 2013.

Jeremy Schwartz, Chairman and CEO The Body Shop said, “I am delighted by this opportunity to launch The Body Shop brand in Brazil through this new venture with Emporio Body Store. We are looking forward to introducing The Body Shop products to discerning Brazilian consumers who appreciate naturally inspired, sensorial products.”

Tobias Chanan, founder and CEO of Emporio Body Store, said: “We are thrilled to associate our company Emporio Body Store to The Body Shop and the L’Oréal Group. In The Body Shop, we have found our kindred spirit: thanks to the synergy of our values, vision and culture, we will have the opportunity to greatly accelerate our business in Brazil.”