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L’Oréal acquires Aēsop for $3.7bn
Melbourne-based skincare group Aēsop has been sold to L’Oréal in a transaction that one global firm providing advice has called “the biggest deal for a luxury brand in Australian history”.
Jerome Doraisamy
Firm: Baker McKenzie (Natura); MinterEllison, Latham & Watkins (Australian and New Zealand legal advisor to L’Oréal)
Area: Merger and acquisition
Value: $3.7 billion
Key players: The Bakers team was led by partners John Walker and Lance Sacks, who were supported by Trench Rossi Watanabe Advogados in São Paulo and Davis Polk in London.
The Minters team was led by partners Louella Stone and Siobhan Doherty, who were assisted by lawyers in Australia as well as New Zealand-based MinterEllisonRuddWatts, together with a multidisciplinary team of experts, including corporate, foreign investment, competition, employment, privacy, finance, property and tax.
Deal significance: Speaking about the deal, Mr Walker said: “Baker McKenzie is delighted to have assisted Natura & Co with the sale of this iconic Australian luxury beauty brand.
“Natura & Co’s investment over the last decade has seen Aēsop evolve into a global super brand available across luxury retail, beauty, and hotels and restaurants, operating about 400 points of sale across the Americas, Europe, Australia, New Zealand and Asia.”
Ms Stone noted: “We are delighted to have worked with Latham & Watkins on this landmark acquisition for their global client, L’Oréal, of a homegrown Australian brand icon.”
And Ms Doherty added: “It was fantastic to bring together a high-calibre, multidisciplinary, cross-jurisdictional team of experts to bring this deal to a successful outcome. It demonstrates the depth of experience of the MinterEllison team in executing complex cross-border transactions.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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