L’oreal buys Body Shop

L’oreal just bought Body Shop International for $1.15 billion. L’oreal has added yet another giant beauty brand in its portfolio. In this case, with Body Shop’s already established retail chain of over 2000 stores worldwide, L’oreal has made an important foray in the direct consumer market.

L’oreal already owns other major brands like Lancome, Garnier and Maybelline. Body Shop however will retain its identity and will continue to be based in London.

(WSJ)