Natura&Co reported this Monday (17) that its board of directors has authorized studies for a possible initial public offering (IPO) of Aesop, which could be preceded by a spin-off, with a listing in the United States.
“The IPO has been evaluated in recent months as an alternative to finance Aesop’s accelerated growth, and Natura&Co’s management has been taking the necessary steps to seek such an alternative,” said the conglomerate in a statement to the market, adding that the possibility is in line with the objective of giving the business units greater autonomy.
The announcement comes about a month after a surge in Natura’s shares on the Stock Exchange, amid rumors involving a restructuring of units in the cosmetics conglomerate.
At the time, the company had denied that its board of directors was conducting any study for the spin-off of Aesop or the sale of The Body Shop.
The move comes months after Fábio Barbosa, former president of Santander Brasil and Grupo Abril, was announced as the company’s new chief executive. Since then, Natura&Co has been talking about reorganizing its operations to give more autonomy to the business units, make its structure lighter and potentially exit less profitable markets.
In addition to the Australian skin and hair care brand Aesop, Natura also owns the British cosmetics and perfume brand The Body Shop and Avon.
In Monday’s statement, Natura said that a possible spin-off could unlock more value for Aesop. In any case, the business will continue under the leadership of current president Michael O’Keeffe through a holding company to be listed in the United States.
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