L'ORÉAL 
For L'Oréal, which owns the Maybelline and Lancôme brands, this is the largest brand acquisition ever, according to data from Dealogic.
At the same time, the deal provides Natura, owner of Avon and The Body Shop, with a crucial financial injection at a time when the Brazilian group is plagued by debt and has seen its margins shrink.
"Asop is taking advantage of all the current upward consumer trends, and L'Oréal will help accelerate its enormous growth potential, particularly in China and 'travel retail'," said L'Oréal CEO Nicolas Hieronimus in the statement.
The French group is renowned for its ability to buy emerging brands and develop them through its global distribution network, emphasizes Ian Simpson, analyst at Barclays.
"Given L'Oréal's track record of creating value from its recent acquisitions, we expect this transaction to be good for sentiment, despite its limited size relative to L'Oréal," he says.
On the Paris Bourse, L'Oréal shares were gaining 0.21% to 416.40 euros at 8:00 GMT, while the CAC 40 was up 0.18% at the same time.
Asop, Natura's most profitable brand, is distributed in around 400 exclusive outlets in America, Europe, Australia, New Zealand and Asia, and last year achieved sales of $537 million, up 21% year-on-year at constant exchange rates.
Founded in 1987, last year the brand entered China - one of the most dynamic markets for cosmetics - "with a solid performance that exceeded expectations".
In the midst of restructuring, Natura has indicated that the transaction should be finalized in the third quarter of 2023. (Reporting by Peter Frontini in Sao Paulo, Scott Murdoch in Sydney, Kane Wu in Hong Kong and Mimosa Spencer in Paris, written by Jean Terzian and Blandine Hénault, edited by Kate Entringer)
