Australian skincare and retail success story, Aesop, has found a buyer, nine months after it was placed on the market.
The 60 store international chain has been sold to Brazilian Natura Cosmeticos, with founder, Dennis Paphitis, netting $68 million for his 65 per cent share.
Paphitis will remain a 25 per cent stakeholder, with 10 per cent held by various other investors.
Goldman Sachs was appointed to sell the company in March 2012, with the sale taking place in late December.Headquartered in Melbourne, the company is expected to remain independently managed, with CEO, Michael O’Keeffe, to retain his role.
O’Keeffe has a small shareholding in the business also.
Paphitis established Aesop in 1987 at 25 years old, with the aim of creating a natural skincare brand.
He will remain with the business as creative consultant.
