L’Oréal acquires Aesop for $2.5 billion in the biggest brand acquisition ever made by the French beauty giant

L’Oréal is buying Australian brand Aesop in a deal that values it at $2.5 billion, in the biggest brand acquisition ever made by the French beauty giant.

The French cosmetics goliath will complete the deal in Q3 2023 and plans to expand the brand’s presence in China and invest in its travel retail operations.

The sale was announced by Aesop’s parent, Brazilian firm Natura & Co, which also owns The Body Shop and Avon. It brings Aesop, which is known for its luxury skin and body care products, under the same umbrella as brands such as Garnier and Maybelline.